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For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


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You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


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Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


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Carpetright PLC (CPR)

  Print      Mail a friend       Annual reports

Wednesday 27 April, 2011

Carpetright PLC

Interim Management Statement

RNS Number : 4949F
Carpetright PLC
27 April 2011


                                                                        Embargoed until 7am, 27 April 2011



27 April 2011

Carpetright plc

Interim Management Statement


Carpetright plc, Europe's leading specialist carpet and floor coverings retailer, today announces a trading update for the 11 weeks ended 16 April 2011.



·    Group sales declined by 6.5%, with the year on year effect of closing our operations in Poland accounting for 0.2% of this decline.

·    The Group's store base decreased by 12 to 682 stores at the period end.

·    UK and Republic of Ireland sales declined by 6.5%, with like-for-like sales2 down 6.3%. 

·    In local currency terms, total sales in Rest of Europe (The Netherlands and Belgium) decreased by 4.4% with like-for-like sales down 5.7%.  After allowing for the movement in exchange rates, this translates to a total sales decline of 6.1%.

·    Underlying profit before tax for the year ended 30 April 2011 is expected to be slightly below the level of profits achieved in the 2009 full year.




11 weeks to

16 April 2011

24 weeks to

16 April 2011

50 weeks to

16 April 2011

Group Sales




UK & RoI

- Total




- Like-for-like




Rest of Europe (continuing businesses)

- Total (in GBP)




- Total (in local currency)




- Like-for-like (in local currency)





Lord Harris of Peckham, Chairman and Chief Executive, said:


"Tough trading conditions in the UK and Republic of Ireland continued into the fourth quarter of our financial year, with fragile consumer confidence producing a weak floor coverings market. While the sales figures announced this morning do not include Easter trading, we do not expect the trend up to the financial year end, 30 April 2011, to be materially different.


"Increases in raw material costs continued in the final month of the quarter, leading to an acceleration of carpet price inflation.  While we have, where possible, looked to pass some of this increase on to customers, the ongoing difficult trading conditions have required us to hold sale prices on many lines to ensure they remain at a competitive level.  As a consequence, we now expect the total UK & Republic of Ireland margin will be flat year on year.


"As a consequence of the above factors, underlying profit before tax for the year ended 30 April 2011 is expected to be slightly below the level of profits achieved in the 2009 full year. 

"Trading conditions in the Republic of Ireland remain very difficult, with our sales having fallen by over 50% over the last three years.  A review of operations has been completed and actions taken to reduce the store portfolio by six stores to bring the cost base back into line with the prevailing market opportunity.  These actions leave the region in a stronger position as we await a recovery in economic conditions.


"The Group's existing finance facilities run to July 2012 and, as part of the normal cycle, we have begun our discussions for their renewal.


"The business remains well placed to capitalise on opportunities when economic conditions improve."


Carpetright will announce its preliminary results for the year ended 30 April 2011 on Tuesday
28 June 2011.




Analyst conference call

Lord Harris will host a conference call for analysts at 08:15 BST today.


The dial in number is 020 8817 9301 with the passcode 4713165.


Thereafter, for further enquiries please contact:


Carpetright plc

Lord Harris of Peckham, Chairman and Chief Executive

Neil Page, Group Finance Director

Tel: 01708 802000


Citigate Dewe Rogerson

Kevin Smith / Lindsay Noton

Tel: 020 7638 9571


A copy of this trading statement will be available on our website today from 7.00am



1.  All sales figures are quoted after deducting VAT.

2.  Like-for-like sales calculated as this year's net sales divided by last year's net sales for all stores that are at least 12 months old at the beginning of our financial year. Stores closed during the year are excluded from both years. No account is taken of changes to store size or introduction of third party concessions. Sales from insurance and house building contracts are supplied through the stores and included in their figures.

3. Certain statements in this report are forward looking. Although the Group believes that the expectations reflected in these forward looking statements are reasonable, we can give no assurance that these expectations will prove to have been correct. Because these statements contain risks and uncertainties, actual results may differ materially from those expressed or implied by these forward looking statements. We undertake no obligation to update any forward looking statements whether as a result of new information, future events or otherwise.


Appendix 1: Store portfolio


Store portfolio

 16 April 2011


29 January 2011

(Previously reported)


Sq Ft


Sq Ft

UK & RoI
















Rest of Europe

The Netherlands















Total Group






This information is provided by RNS
The company news service from the London Stock Exchange