Pre Close Trading Update
October 28 2009 - 3:00AM
UK Regulatory
TIDMCPR
RNS Number : 4740B
Carpetright PLC
28 October 2009
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 | 12 weeks to | 25 weeks to |
| | 1 August 2009 | 24 October | 24 October |
| | (previously | 2009 | 2009 |
| | reported) | | |
+---------------------------+------------------+---------------+---------------+
| 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 | 0.9% | (9.9%) | (4.5%) |
| currency) | | | |
+---------------------------+------------------+---------------+---------------+
| - Like-for-like (in constant currency) | (8.2%) | (5.4%) |
| (2.8%) | | |
+---------------------------+------------------+---------------+---------------+
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 | Tel: 01708 802000 |
| Lord Harris of Peckham, Chairman and Chief Executive | |
| Neil Page, Group Finance Director | |
| | |
+-------------------------------------------------------+-------------------------+
| Citigate Dewe Rogerson | Tel: 020 7638 9571 |
| Angharad Couch / Lindsay Noton | |
+-------------------------------------------------------+-------------------------+
A copy of this trading statement will be available on our website
www.carpetright.plc.uk today from 7.00 a.m.
Notes
1. All sales figures are quoted after deducting VAT.
2. Excludes Sleepright within Carpetright locations.
3. 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.
4. The Group will announce its Interim Results for the 26 weeks to 31 October 2009
on Tuesday 15 December 2009.
5. There have been no significant changes to the Group's financial position during
the period.
6. 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTEAPEXAFKNFFE
Carpetright (LSE:CPR)
Historical Stock Chart
From Jun 2024 to Jul 2024
Carpetright (LSE:CPR)
Historical Stock Chart
From Jul 2023 to Jul 2024
