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Year End Pre-Close Trading Update

28 Apr 2010 07:00

RNS Number : 9100K
Carpetright PLC
28 April 2010
 



Carpetright plc

Year End Pre-Close Period Announcement

 

Carpetright plc, Europe's leading specialist carpet and floor coverings retailer, today announces an update on trading for the12 week period to 24 April and the second half of the financial year.

 

Highlights for the 12 week period from 31 January 2010 to 24 April 2010:

 

·; Group sales rose by 4.9%(i) and the store base decreased to 703(ii) at the period end.

·; UK and Republic of Ireland sales rose by 6.8%, with like-for-like sales(iii) up 1.5%.

·; A net eight stores have been closed, decreasing the total to 586(ii).

·; In constant currency terms, in our continuing business in the Rest of Europe (The Netherlands and Belgium) total sales increased by 0.9% with like-for-like sales up 1.6%. After allowing for the movement in exchange rates, this translates to a total sales decline of 3.1%. The number of stores remained constant at 117.

·; Our announced withdrawal from trading operations in Poland has been concluded successfully.

 

12 weeks to

24 Apr 2010

25 weeks to

24 Apr 2010

51 Weeks to

24 Apr 2010

Group Sales

4.9%

6.1%

7.5%

UK & RoI

- Total

6.8%

7.4%

8.5%

- Like-for-like

1.5%

2.1%

3.1%

Rest of Europe (continuing businesses)

- Total (in GBP)

(3.1%)

1.1%

3.4%

- Total (in constant currency)

0.9%

(2.2%)

(3.4%)

- Like-for-like (in constant currency)

1.6%

(1.1%)

(3.1%)

 

 

Lord Harris of Peckham, Chairman and Chief Executive, said:

 

"UK market conditions have continued to be difficult. Since our last trading update on 23 March, sales have been slightly below our expectations and we anticipate the year ahead to remain challenging.

 

"Our businesses in The Netherlands and Belgium continue to trade well and have now returned to like-for-like growth."

 

 

Carpetright will make its results announcement for the financial year 2009/10 on Tuesday 29 June 2010.

 

Analyst conference call

 

Lord Harris will host a conference call for analysts at 8.15am

 

The dial in number is +44 (0)20 7806 1957 with the passcode 1541370

 

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

Kevin Smith / 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 7.00am

 

Notes

(i) All sales figures are quoted after deducting VAT.

(ii) Excludes Sleepright within Carpetright locations.

(iii) Like-for-like sales represent sales from stores which have been trading for 52 weeks at the start of the financial year. It includes the sales of beds, where these have been introduced into the like-for-like store base since the acquisition of Sleepright in December 2008.

(iv) The Group will announce its results for the financial year 2009/10 on Tuesday 29 June 2010.

(v) There have been no significant changes to the Group's financial position during the period.

(vi) Certain statements in this report are forward looking. Although the Group believes that the expectations reflected in these forward looking statements are reasonable, we can give no assurance that these expectations will prove to have been correct. Because these statements contain risks and uncertainties, actual results may differ materially from those expressed or implied by these forward looking statements. We undertake no obligation to update any forward looking statements whether as a result of new information, future events or otherwise.

 

 

28 April 2010

Carpetright plc

Year End Pre-Close Period Announcement

 

Appendix I: Store metrics

 

2009/2010

2008/2009

Store Base - Numbers

24 April

31 Oct

2 May

1 Nov

2010

2009

2009

2008

UK & Rol

Carpetright

497

495

471

462

Concessions

49

57

57

60

Storeys

39

37

37

39

Sleepright

1

1

2

0

586

590

567

561

Rest of Europe*

The Netherlands

89

88

88

89

Belgium

28

28

28

28

Poland

0

10

12

11

117

126

128

128

Group Total

703

716

695

689

 

2009/2010

2008/2009

Store Space (knsf)

24 April

31 Oct

2 May

1 Nov

2010

2009

2009

2008

UK & Rol

Carpetright

4,115

4,109

3,985

3,963

Concessions

119

131

116

119

Storeys

389

374

383

397

186

170

148

0

4,809

4,784

4,632

4,479

Rest of Europe*

The Netherlands

1,063

1,059

1,065

1,081

Belgium

335

335

335

335

Poland

0

113

123

115

1,398

1,507

1,523

1,531

Group Total

6,207

6,291

6,155

6,010

 

* excludes joint venture in Germany

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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