Carpetright reports like-for-like sales in the UK up 4% and total sales up 2.5% over the 25 weeks ended 24th October 2015 – a positive performance, yet not enough to change the decline in gross profit percentage predicted for the year.
Five stores were opened and 27 closed in the year to date, giving a net reduction of 22, leaving 438 trading locations.
Carpetright's progress in mainland Europe has been restricted by currency. In local currency terms, like-for-like sales in Netherlands, Belgium and the Republic of Ireland increased by 5.7% year on year, while total sales increased by 2.7%. However, after the impact of currency movements, this translates to a 6.9% decrease in total sales. During the period, five stores were opened and four closed, leaving 138 trading locations.
Wilf Walsh, chief executive, says: “I am pleased to report that the group continued its positive trading performance during the period. In the UK we delivered encouraging sales growth against strong comparatives in the prior year and continue to gain market share. Sales in the rest of Europe have also continued to recover.
“Our aim to revitalise the Carpetright brand is on track. We have made further progress with the strategy of rationalising and repositioning our store portfolio and are encouraged by the early performance of our four trial concept stores in the UK. We will update shareholders on progress of our strategic initiatives at the time of the interim results in December.
“Trading in the year to date remains in line with management's expectations and our view for the year as a whole remains unchanged.”