Carpetright stays on track to meet expectations after a frayed year

Kasmira Jefford
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CARPETRIGHT cheered the market yesterday after posting a seven per cent rise in like-for-like sales in its first quarter under the leadership of new chief executive Wilf Walsh.

The retailer has had a tough year after suffering several profit warn­ings and losing its previous chief ex­ec­utive Darren Shapland last October.

In June, its founder Lord Harris said he planned to stay on as non-executive chairman, just weeks after announcing his retirement, as losses widened.

The company sought to put some of its troubles behind it yesterday, as it reported improved trading in the UK as well as the Netherlands and Belgium.

Total UK sales increased by 5.7 per cent in the 11 weeks to 11 October, while sales in the rest of Europe fell by 0.8 per cent. After the impact of currency movements, sales were down 7.9 per cent.

Carpetright said its guidance for the year was unchanged, with analysts forecasting profits of around £8m.

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