Carpetright PLC Interim Management Statement (8809J)
July 23 2013 - 2:00AM
UK Regulatory
TIDMCPR
RNS Number : 8809J
Carpetright PLC
23 July 2013
Carpetright plc
Interim Management Statement
Carpetright plc, Europe's leading specialist carpet and floor
coverings retailer, today announces its trading update for the 12
weeks ended 20 July 2013.
Highlights
-- UK
o Like-for-like sales (note 2) in the UK were down 1.9%. Total
sales in the UK decreased by 3.3%.
o Improvement in gross profit percentage of 80bps in the
period.
o Store base decreased by five during the period to 473, of
which 202 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 10.6%. Total sales declined by 10.9%. After the impact of
currency movements this translates to a 4.4% decrease.
o Improvement in gross profit percentage of 100bps in the
period.
o Key driver of performance continues to be weakness in the
Netherlands economy.
Darren Shapland, Chief Executive, said:
"We saw solid growth in UK sales during May and June, reflecting
the continued progress of our self-help activities. During July
this positive trend was reversed by the significantly warmer
weather, with the decline being compounded by a period of strong,
wet weather assisted, comparatives in 2012 during which retail
like-for-like grew by 5.3%. Excluding the expected decrease in
sales from the wholesale business during the 12 week period, our
core retail business would have reported a like-for-like sales
decline of 1.0%.
"Trading in our Rest of Europe business continues to be
dominated by the extremely difficult economic conditions in the
Netherlands.
"Notwithstanding the tough trading conditions we believe we
continue to grow market share in all of our markets and continue to
see significant further potential in our planned self-help
initiatives."
The Group will report its pre-close trading update for the first
half of its financial year on 15 October 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
3640848.
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. There have been no significant changes to the Group's financial position during the period.
Appendix 1: Group Sales
12 weeks 12 weeks 12 weeks 52 weeks
to 20 July to to to
2013
24 July 2012 20 April 27 April
2013 2013
(previously (previously (previously
reported) reported) reported)
----------------------------------------------- ------------ -------------- ------------- -------------
UK
* Total (3.3%) (2.1%) 4.4% 0.6%
(1.9%) 1.7% 5.6% 2.5%
* Like-for-like (1.0%) 5.3% 6.7% 4.4%
* Like-for-like excluding wholesale
Rest of Europe
* Total (in local currency) (10.9%) (5.2%) (10.2%) (10.1%)
* Like-for-like (in local currency) (10.6%) (6.3%) (10.2%) (10.5%)
* Total (in GBP) (4.4%) (13.6%) (7.3%) (14.8%)
----------------------------------------------- ------------ -------------- ------------- -------------
Group Sales (in GBP) (3.5%) (4.3%) 2.1% (2.3%)
----------------------------------------------- ------------ -------------- ------------- -------------
Appendix 2: Store portfolio
Store portfolio 20 July 2013 24 July 2012 20 April Year end
2013
(previously (previously 27 April
reported) 2013
reported) (previously
reported)
----------------- ----------------- ----------------- -----------------
Stores Sq ft Stores Sq ft Stores Sq ft Stores Sq ft
-------------------------- ------- -------- ------- -------- ------- -------- ------- --------
UK
Standalone 457 4,064 470 4,211 461 4,120 462 4,124
Concessions 16 29 16 29 16 29 16 29
Total 473 4,093 486 4,240 477 4,149 478 4,153
-------------------------- ------- -------- ------- -------- ------- -------- ------- --------
Europe
Republic of Ireland 21 155 20 147 21 154 21 155
Netherlands 95 1,104 95 1,104 95 1,105 95 1,104
Belgium 26 307 28 329 26 307 26 307
Total 142 1,566 143 1,580 142 1,566 142 1,566
-------------------------- ------- -------- ------- -------- ------- -------- ------- --------
Total Group 615 5,659 629 5,810 619 5,715 620 5,719
-------------------------- ------- -------- ------- -------- ------- -------- ------- --------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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