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Carpetright reports 6.8% rise in LFL sales in Q3

Carpetright Reigate Concept Store 725 x 500

Carpetright plc, Europe’s leading specialist carpet and floor coverings retailer, today announces an update on trading for the 13 weeks ended 28 January 2017.

- Return to quarterly sales growth in the UK.
- Rest of Europe continues to benefit from improved consumer sentiment and positive currency impact.
- Board remains comfortable with the range of market expectations for the Group’s full year profit. (note 1)

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- Like-for-like sales for the four weeks to 28 January 2016, up 6.8%
- Like-for-like sales for the thirteen week period up 1.9% (notes 2, 3)
- 120 stores now trading under the new brand identity, delivering sales growth above comparable stores in the rest of the estate. On track to achieve 150 stores by the end of April, in line with our accelerated refurbishment plan.
- One new store opened, one relocated and three closed in the period, giving a net reduction of two stores - leaving a total of 427 trading locations.
- Two new stores scheduled to open in the next quarter in Leeds (Birstall) and Bath.

Rest of Europe
- In local currency terms, like-for-like sales in the Rest of Europe (Netherlands, Belgium and the Republic of Ireland) increased by 5.4%. This translates to an increase of 22.4% in reported currency.
- One store opened during the period, leaving 138 trading locations.

Wilf Walsh, Chief Executive, said: “We are pleased to announce a return to quarterly like-for-like sales growth in the UK. Our trading performance over the last four weeks, with like-for-like growth of 6.8%, gives us confidence that our turnaround strategy is on track. The refurbished stores with our new brand identity continue to outperform the un-invested estate and we are confident of hitting our target of 150 stores – representing over one-third of the UK estate by the financial year end.

“Like-for-like sales growth in our Rest of Europe business was better than expected as consumer spending continued to recover in the Netherlands. “Whilst the outlook for the UK consumer remains uncertain, we remain confident in our plan and are comfortable with the current range of market expectations.”

Source : Carpetright

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01 February 2017

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