skip to main content
  • *
  • *
  • *
Find Insight DIY on
* * *


Carpetright reports Q2 sales decline

Carpetright has announced a 5.2% fall in second quarter sales, and warned that full-year profits will come in at “the lower end of current expectations.”

Sales in the UK fell 6.8% in the 12 weeks to 22 October, with like-for-likes down 3%. Store numbers fell by 11 during the period to 643.

There was also bad news on the gross margin, which has been hit by the highly promotional trading environment and the higher proportion of beds in the sales mix. Chairman and chief executive Lord Harris said it would be down by about 400 basis points in the first half and 300 over the full year. He said that cost savings of £4m would partially offset this.

Beds now represent 6% of revenue. Carpetright has appointed two former directors of Bensons Beds to develop its offer in the category, and the new bed range will be launched in the third quarter.

“Looking forward, I see no respite from the challenging environment over the next year but remain confident the group will emerge in a strong position to deliver future growth once consumer demand improves,” Harris said.

Source : Tim Danaher – Retail Week

25 October 2011
view more UK DIY News

Insight provides a host of information I need on many of our company’s largest customers. I use this information regularly with my team, both at a local level as well as with our other international operations. It’s extremely useful when sharing market intelligence information with our corporate office.

Paul Boyce - European CEO, QEP Ltd.

Don't miss out on all the latest, breaking news from the DIY industry