TIDMCPR 
 
RNS Number : 4809Q 
Carpetright PLC 
04 August 2010 
 

 
 
 
 
 
 
                                Carpetright plc 
                          Interim Management Statement 
 
Carpetright plc, Europe's leading specialist carpet and floor coverings 
retailer, today announces a trading update for the 13 weeks ended 31 July 2010, 
being the first quarter of its current financial year. 
 
Highlights 
 
·    Group sales declined by 2.5%, with the year on year effect of closing our 
operations in Poland accounting for 0.6 % of this decline. 
·    The Group's store base increased by one to 7042 stores at the period end. 
·    UK and Republic of Ireland sales declined by 0.9%, with like-for-like 
sales3 down 3.4%.  A net two stores have been opened, increasing the total to 
5882. 
·    In constant currency terms, Rest of Europe (The Netherlands and Belgium) 
total sales decreased by 3.3% with like-for-like sales down 4.2%.  After 
allowing for the movement in exchange rates, this translates to a total sales 
decline of 6.2%.  One store has closed, reducing the total to 116. 
 
+------------------------------------+----------------+----------------+ 
|                                    |   13 weeks to  |   13 weeks to  | 
|                                    |   31 July 2010 |  1 August 2009 | 
|                                    |                |    (Previously | 
|                                    |                |      reported) | 
+------------------------------------+----------------+----------------+ 
| Group Sales                        |         (2.5%) |           7.5% | 
+------------------------------------+----------------+----------------+ 
|                                    |                |                | 
+------------------------------------+----------------+----------------+ 
| UK & RoI                           |                |                | 
+------------------------------------+----------------+----------------+ 
| - Total                            |         (0.9%) |           6.6% | 
+------------------------------------+----------------+----------------+ 
| - Like-for-like                    |         (3.4%) |           1.4% | 
+------------------------------------+----------------+----------------+ 
|                                    |                |                | 
+------------------------------------+----------------+----------------+ 
| Rest of Europe (continuing businesses)                               | 
+----------------------------------------------------------------------+ 
| - Total (in GBP)                   |         (6.2%) |          11.5% | 
+------------------------------------+----------------+----------------+ 
| - Total (in constant currency)     |         (3.3%) |         (0.3%) | 
+------------------------------------+----------------+----------------+ 
| - Like-for-like (in constant       |         (4.2%) |         (3.1%) | 
| currency)                          |                |                | 
+------------------------------------+----------------+----------------+ 
 
Lord Harris of Peckham, Chairman and Chief Executive, said: 
 
"As announced previously, we had expected consumer demand across Europe to 
remain subdued as we entered our new financial year, and this view is reflected 
in the update announced today. 
 
"We remain cautious about the outlook for consumer spending for the balance of 
the year and as a consequence continue to manage the business by exerting tight 
control over all costs, capital expenditure, stock and cashflow. Gross margins 
in the UK are up on previous year largely a result of managing promotional 
activity. 
 
"Our focus on strong value-led retail brands will enable the Group to capitalise 
on its market leading positions in its geographical markets when economic 
conditions improve." 
 
The Group will report its pre-close trading update for the first half of its 
financial year on 27 
October 2010. 
Analyst conference call 
Lord Harris will host a conference call for analysts at 8:30am 
 
The dial in number is 0845 634 0041 with the passcode 3292598 
 
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 / 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 
1.  All sales figures are quoted after deducting VAT. 
2.  Excludes Sleepright within Carpetright locations. 
3.  Like-for-like sales calculated as this year's net sales divided by last 
year's net sales for all stores that are at least 12 months old at the beginning 
of our financial year. Stores closed during the year are excluded from both 
years. No account is taken of changes to store size or introduction of third 
party concessions. Sales from insurance and house building contracts are 
supplied through the stores and included in their figures. 
4. There have been no significant changes to the Group's financial position 
during the period. 
5. 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. 
 
+------------------------------------+-------+---------+-------+--------+ 
| Store portfolio                    |  31 July 2010   |  1 May 2010    | 
|                                    |                 |  (Previously   | 
|                                    |                 |   reported)    | 
+------------------------------------+-----------------+----------------+ 
|                                    | Sites |   Sq Ft | Sites |  Sq Ft | 
+------------------------------------+-------+---------+-------+--------+ 
| UK & RoI                           |       |         |       |        | 
+------------------------------------+-------+---------+-------+--------+ 
| Standalone                         |   536 |   4,672 |   537 |  4,689 | 
+------------------------------------+-------+---------+-------+--------+ 
| Concessions                        |    52 |     129 |    49 |    119 | 
+------------------------------------+-------+---------+-------+--------+ 
| Total                              |   588 |   4,801 |   586 |  4,808 | 
+------------------------------------+-------+---------+-------+--------+ 
| Rest of Europe                     |       |         |       |        | 
+------------------------------------+-------+---------+-------+--------+ 
| The Netherlands                    |    88 |   1,046 |    89 |  1,063 | 
+------------------------------------+-------+---------+-------+--------+ 
| Belgium                            |    28 |     335 |    28 |    335 | 
+------------------------------------+-------+---------+-------+--------+ 
| Total                              |   116 |   1,381 |   117 |  1,398 | 
+------------------------------------+-------+---------+-------+--------+ 
| Total Group                        |   704 |   6,182 |   703 |  6,206 | 
+------------------------------------+-------+---------+-------+--------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 IMSSSUFMDFSSEDA
Carpetright (LSE:CPR)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Carpetright Charts.
Carpetright (LSE:CPR)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Carpetright Charts.