Carpetright trading on course
UK sales edge ahead
August 12 2003
Caprteright has seen its UK sales increase across the past 14 weeks, despite a general downturn in demand for carpets and home furnishings.
Chairman and chief executive Lord Harris told shareholders at the UK retailer’s annual meeting that trading across the start of the financial year is in line with expectations.
Total UK sales for the 14 weeks to August 9 increased by 0.7 per cent, with like for like sales level for the same period. Lord Harris said the business is also making good progress with its cost reduction programme.
The European business acquired last year is “on track towards achieving our medium term objectives for the business. During July we have seen some improvement in the sales trend for both Belgium and Holland and continue to benefit from the improved gross margin and tighter costs from the actions taken last year.
“Despite a difficult trading environment for floor coverings in the UK, Belgium and Holland the Group continues to grow market share.”
