Trading Statement
January 31 2006 - 2:01AM
UK Regulatory
RNS Number:6557X
Carpetright PLC
31 January 2006
31 January 2006
Carpetright plc
Third Quarter Trading Update
Carpetright plc, Europe's leading specialist carpet and floor coverings
retailer, today announces its third quarter trading update, which covers the
first 13 weeks of the second half of the financial year ending 29 April 2006.
The UK and Republic of Ireland business has recorded a total sales increase of
0.6% with like for like store sales up by 0.2%, compared to 3.8% down in the
same period last year. Sales from net new Carpetright space increased by 2.1%
but this was offset by the impact of the closure of the Allders concessions in
February and March 2005. Gross margin has improved in line with our
expectations.
Carpetright's European business continues to make good progress with total
product sales in local currency increasing by 9.2%.
Within the UK and Republic of Ireland 19 stores have opened since the half-year
and five have been closed taking the total number of stores to 429 including 27
concessions. It is expected that a further 15 stores will be trading by the
year-end. Additionally, we have reached an agreement with House of Fraser to
provide carpet concessions in 18 stores, with the first store expected to open
in May 2006.
In Europe one store opened and one closed in the period leaving the total at 93
stores. We plan to open a further three stores in the Netherlands and one in
Belgium before the year-end.
Lord Harris of Peckham, Chairman and Chief Executive, said:
"We are satisfied with our overall performance. Our new store opening programme
is particularly strong within the UK and Republic of Ireland, and we are well
placed to grow sales and market share in 2006. Our European business continues
to grow and we are on track to open two stores in Poland before the year-end as
previously announced."
The Group will report its pre-close trading update for the second half on 25
April 2006.
For further enquiries please contact:
Carpetright plc
Ian Kenyon, Group Finance Director 01708 527732
Citigate Dewe Rogerson
Patrick Toyne Sewell / Sara Batchelor 020 7638 9571
This information is provided by RNS
The company news service from the London Stock Exchange
END
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