28 Oct 2009 07:00
28 October 2009
Carpetright plc
Pre Close Trading Update
For the 12 weeks to 24 October 2009
Carpetright plc, Europe's leading specialist carpet and floor coverings retailer, today announces the following trading update for the 12 weeks ended 24 October 2009.
Highlights for the 12 weeks to 24 October 2009
Group sales rose by 10.3%, with store base increased to 7182 at the period end.
UK and Republic of Ireland sales rose by 12.2%, with like-for-like sales3 up 5.6%. A net 11 stores have been opened, increasing the total to 5922.
In constant currency terms, Rest of Europe (The Netherlands, Belgium and Poland) total sales decreased by 9.9% with like-for-like sales down 8.2%. After allowing for the movement in exchange rates, this translates to a total sales growth of 1.6%. The store base remains at 126.
| 13 weeks to 1 August 2009 (previously reported) | 12 weeks to 24 October 2009 | 25 weeks to 24 October 2009 | |
| Group Sales | 7.5% | 10.3% | 8.9% |
| UK & RoI | |||
| - Total | 6.6% | 12.2% | 9.5% |
| - Like-for-like | 1.4% | 5.6% | 3.5% |
| Rest of Europe | |||
| - Total (in GBP) | 11.4% | 1.6% | 6.4% |
| - Total (in constant currency) | 0.9% | (9.9%) | (4.5%) |
| - Like-for-like (in constant currency) (2.8%) | (8.2%) | (5.4%) | |
Lord Harris of Peckham, Chairman and Chief Executive, said:
"We are pleased with our overall performance during the period.
"In the UK, we continue to take advantage of opportunities and have opened a net 11 new stores in the last twelve weeks. Our discussions with house builders and insurers have begun to secure us additional business and we expect to continue to make progress in this area during the second half. The underlying carpet margin has remained in line with last year, whilst the greater proportion of beds sales in the mix has resulted in the overall UK gross profit percentage dropping by around 60 basis points.
"As expected, sales in The Netherlands and Belgium decreased as a consequence of slowing economic conditions. However, we believe we continue to grow market share and are well positioned to capitalise on this when trading conditions improve.
"We expect to deliver a half year profit performance ahead of expectations and, whilst we remain cautious about the retail market in the balance of the financial year, we have made a solid start."
Analyst conference call
Lord Harris will host a conference call for analysts at 8.15 a.m.
The dial in number is 0800 028 1243 with the passcode 4543012.
Thereafter, for further enquiries please contact:
| Carpetright plc Lord Harris of Peckham, Chairman and Chief Executive Neil Page, Group Finance Director
| Tel: 01708 802000 |
| Citigate Dewe Rogerson Angharad Couch / Lindsay Noton | Tel: 020 7638 9571 |
A copy of this trading statement will be available on our website www.carpetright.plc.uk today from 7.00 a.m.
Notes