Carpetright reports trading "in line with expectations' for the 12 weeks ended 20th April 2019, ensuring the business remains on target to achieve the previously-announced £19m of annualised cash savings.
UK LFL sales trend improved significantly in the retailer's Q4, compared to the year to date, as customer confidence in the business started to return following the group’s restructuring last year, while trading in the rest of Europe continued to track ahead of the same period last year, driven by a strong performance in the Netherlands.
Wilf Walsh, chief executive, says: “This has been a transitional year for Carpetright and we remain on track both with our recovery plan and our strategic initiatives. The actions taken are driving improvement, particularly in the invested store estate, and the brand remains strong. Whilst consumer confidence remains challenged in the UK, the work we have done to reposition the business is starting to deliver the benefits necessary to put Carpetright back on the path to sustainable profitability.”
Carpetright will announce its FY results on 25th June 2019.