Carpetright in profit warning

CARPETRIGHT, the UK’s biggest floor coverings retailer, yesterday warned on profits after a third-quarter sales slump, showing how a weak housing market, tax hikes and government cuts have hit consumer confidence.

The retailer also said customers would face double-digit price rises this year due to the soaring cost of raw materials.

“It is the first time in 22 years Carpetright’s been going that we have got really big inflation,” said chief executive Philip Harris.

He said that wool prices had been soaring.