Carpetright lifts British sales yet trading in Europe disappoints

 
Kasmira Jefford
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CARPETRIGHT posted better than expected third quarter sales in its home market after “self-help” measures such as store revamps and new product ranges helped to boost trading.

The flooring specialist retailer, said UK like-for-like sales were up 3.2 per cent in the 13 weeks to 26 January, compared with a 0.6 per cent rise in its second quarter.

Total sales in the UK rose by 1.6 per cent.

The company issued its seventh profit warning last April over more than a year as it battled against rising living costs and a stagnant housing market.

It has since been trying to drive sales by refurbishing 122 of its 476, stores and expanding its laminate floor and bed ranges.

“Whilst trading conditions remain challenging, we have good momentum in our self-help initiatives,” chief executive Darren Shapland said.

Despite an improvement in its UK performance, sales in Europe shrank by 11.5 per cent on a like-for-like basis, with the Netherlands a particularly tough market.

Shares in the company, founded by Lord Harris, closed down 1.17 per cent to 675p yesterday.