26th Jan 2016 08:25
LONDON (Alliance News) - Carpetright PLC on Tuesday reported a fall in total sales in the UK in the third quarter of its financial year, although like-for-like sales grew as recovery in customer numbers in the January sales period offset lower footfall in the run-up to Christmas.
The carpets and floorings retailer said total UK sales in the 12 weeks to January 23 fell by 1.3% year-on-year, but rose by 2.4% on a like-for-like basis. Like-for-like sales in the four weeks to the same date grew 6.0%.
Carpetright said the like-for-like performance was its ninth consecutive quarter of growth in the UK, and while it saw some softening in the pre-Christmas period reflecting lower footfall, customer numbers recovered in the important January sale period.
Meanwhile, in the rest of Europe, total sales declined 2.7% in the 12 weeks, but would have increased by 4.4% if foreign exchange rates remained constant. Like-for-likes grew 4.2% in local currency terms.
The like-for-like performance was better than expected, Carpetright said, as consumer spending continued to recover, particularly in the Netherlands and Republic of Ireland.
Carpetright added that its profit expectations for the full financial year ending April 30 are unchanged.
The company will issue a pre-close update on April 26 and its full-year results on June 28.
Shares in Carpetright were trading down 10% at 405.00 pence early Tuesday, following the trading update.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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