Distribution / NATIONAL / Jan.31Conditions remain tough for CarpetrightRetailer cuts debt and reports flat sales
The company - which has been trying to build its beds business at the same time as consolidating its overall store estate - said core like for likes would have been 1 per cent up but for a disappointing performance from its insurance replacement business.
Lord Harris, chairman and chief executive, said: "Tough trading conditions in the UK persisted with fragile consumer confidence producing a difficult market. Like-for-like sales performance has been volatile, and this continues to be the case, with volumes remaining sensitive to levels of promotional discounting."
Carpetright says it has now completed the refurbishment of 27 stores as part of the relaunch of its beds offer, and these are delivering good growth. The company said it was also on target to significantly reduce year end net debt, which it said was expected to fall to about £43m by the end of April, down from £65.7m last year.
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Flooring and beds chain Carpetright says UK sales were down 4.8 per cent in the 12 weeks to 21 January, improving to a 0.5 per cent decline on a same-store basis.