TIDMCPR
RNS Number : 9487C
Carpetright PLC
23 April 2013
Embargoed until 7am, 23 April 2013
23 April 2013
Carpetright plc
Pre Close Trading Update
Carpetright plc, Europe's leading specialist carpet and floor
coverings retailer, today announces a trading update for the 12
weeks ended 20 April 2013.
Highlights
-- The Group result for the financial year to date is in line with management's expectations.
-- UK
o Like-for-like sales (note 2) in the UK increased by 5.6%.
Total sales in the UK increased by 4.4%.
o Store base increased by one during the period to 477, of which
180 have now been modernised.
-- Rest of Europe
o In local currency terms, like-for-like sales in the Rest of
Europe (Netherlands, Belgium and the Republic of Ireland) decreased
by 10.2%. Total sales declined by 10.2%.
o Solid performance in Belgium and the Republic of Ireland
offset by continued weakness in the Netherlands.
Darren Shapland, Chief Executive, said:
"We are pleased to report good like-for-like sales growth in the
UK of 5.6%. Excluding the expected contraction in sales from the
wholesale business, our core UK retail business (note 3) would have
reported like-for-like sales growth of 6.7% for the period. Whilst
the recent cold spring weather has been positive to our sales, we
believe this performance reflects the continued success of our
programme of self-help initiatives. These include the ongoing
programme of store refurbishments, the introduction of our improved
laminate range to more stores, the development of our bed business
and the increased use of digital media. This has been achieved in a
market which remains challenging with consumers very focused on
getting a good deal, necessitating a highly visible and compelling
promotional programme.
"Gross margin for the period has been in line with previously
announced expectations and our view of the full year gross profit
percentage improvement is now in the range of 225-250 basis points
above the prior year (note 4) .
"Our business in the Rest of Europe continues to contrast a
solid performance in both Belgium and the Republic of Ireland,
offset by the continued weak performance of our business in the
Netherlands. The actions we took earlier in the year when
deteriorating economic conditions in the Netherlands prompted a
significant decline in the furnishings and home improvement sector
are now helping support our overall profitability in this
country.
"The Group result for the year to date is in line with
management's expectations and whilst trading conditions remain
challenging, we have good momentum with our self-help initiatives
which we believe will carry onto the new financial year."
The Group will report its preliminary results for the financial
year ending 27 April 2013 on Tuesday, 25 June 2013.
Analyst conference call
Darren Shapland will host a conference call for analysts at
08:30 BST today.
The dial in number is +44 (0) 20 3003 2666 with the passcode
5422460.
Thereafter, for further enquiries please contact:
Carpetright plc
Darren Shapland, 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. Like-for-like sales calculated as this year's net sales
compared to 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.
3. Retail stores like-for-like sales are like-for-like sales
excluding sales from insurance and house building contracts. The
latter being grouped together and classified as 'wholesale'
sales.
4. H1 2011/12 58.0%, 4.3%pts down on H1 2010/11 62.3%; H2
2011/12 60.0%, 2.1%pts down on H2 2010/11 62.1%. FY 2011/12 58.9%,
3.3%pts down on FY 2010/11 62.2%. H1 2012/13 61.7%, 3.7%pts up on
H1 2011/12.
Appendix 1: Group Sales
12 weeks 13 weeks 25 weeks 51 weeks
to to to to
20 April 26 Jan 2013 20 April 20 April
2013 2013 2013
(previously
reported)
----------------------------------------------- ---------- ------------- ---------- ----------
UK
* Total 4.4% 1.6% 3.0% 0.6%
5.6% 3.2% 4.4% 2.5%
* Like-for-like 6.7% 4.7% 5.7% 4.4%
* Like-for-like excluding wholesale
Rest of Europe
* Total (in local currency) (10.2%) (11.2%) (10.7%) (10.1%)
* Like-for-like (in local currency) (10.2%) (11.5%) (10.9%) (10.5%)
* Total (in GBP) (7.3%) (15.9%) (11.2%) (14.8%)
----------------------------------------------- ---------- ------------- ---------- ----------
Group Sales 2.1% (1.6%) 0.3% (2.3%)
----------------------------------------------- ---------- ------------- ---------- ----------
Appendix 2: Store portfolio
Store portfolio 20 April 2013 26 January Half Year Year end
2013
(previously 27 October 28 April 2012
2012
reported) (previously (previously
reported) reported)
----------------- ----------------- ----------------- -----------------
Stores Sq ft Stores Sq ft Stores Sq ft Stores Sq ft
-------------------------- ------- -------- ------- -------- ------- -------- ------- --------
UK
Standalone 461 4,120 460 4,117 464 4,165 474 4,241
Concessions 16 29 16 29 16 33 16 29
Total 477 4,149 476 4,146 480 4,198 490 4,270
-------------------------- ------- -------- ------- -------- ------- -------- ------- --------
Europe
Republic of Ireland 21 154 21 154 20 147 20 147
Netherlands 95 1,105 95 1,105 95 1,105 94 1,095
Belgium 26 307 26 307 26 307 28 329
Total 142 1,566 142 1,566 141 1,559 142 1,570
-------------------------- ------- -------- ------- -------- ------- -------- ------- --------
Total Group 619 5,715 618 5,712 621 5,757 632 5,840
-------------------------- ------- -------- ------- -------- ------- -------- ------- --------
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTNKBDPABKDBQB
Carpetright (LSE:CPR)
Historical Stock Chart
From Jun 2024 to Jul 2024
Carpetright (LSE:CPR)
Historical Stock Chart
From Jul 2023 to Jul 2024
