Sales lower at Carpetright
Market share held in tougher sales environment
October 7 2003
Carpetright saw UK sales dip in the 22 weeks to October 4, but said the business had grown its market share in a generally tough sales environment.
Total UK sales fell by 0.8 per cent, with like for likes down by 1.5 per cent, due to lower than expected sales during August and early September.
Carpetright said profits remain in line with expectations, wtth gross margin up 2.9 per cent compared to last year and a cost reduction programme delivering savings in the business.
The Benelux business, acquired last year, has continued to see sales trends improve, despite challenging market conditions in both Belgium and Holland countries.
Chairman and chief executive Lord Harris of Peckham said: “Our UK business has continued to gain market share in what has been a difficult trading environment. With good gross margin growth and variable costs tightly controlled we continue to improve profits compared to last year.
“Our Benelux business remains on track towards our medium term objectives with growth in market share, gross margin improvement and cost savings coming through.”
