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Carpetright in bleak update
CARPETRIGHT, Britain’s biggest floor coverings retailer, said yesterday it did not expect an improvement in trading conditions any time soon, as it stemmed a fall in UK sales by cutting prices and making a big push into beds and laminates.
The firm, which has issued three profit warnings this year, said sales fell 0.2 per cent in the 12 weeks to 23 July. That represented a significant improvement on a decline of 6.3 percent in the fourth quarter of the previous year.
“I see no respite from the challenging environment over the next year,” said chairman and chief executive Philip Harris.=