31st Jan 2006 07:00
Carpetright PLC31 January 2006 31 January 2006 Carpetright plc Third Quarter Trading Update Carpetright plc, Europe's leading specialist carpet and floor coveringsretailer, today announces its third quarter trading update, which covers thefirst 13 weeks of the second half of the financial year ending 29 April 2006. The UK and Republic of Ireland business has recorded a total sales increase of0.6% with like for like store sales up by 0.2%, compared to 3.8% down in thesame period last year. Sales from net new Carpetright space increased by 2.1%but this was offset by the impact of the closure of the Allders concessions inFebruary and March 2005. Gross margin has improved in line with ourexpectations. Carpetright's European business continues to make good progress with totalproduct sales in local currency increasing by 9.2%. Within the UK and Republic of Ireland 19 stores have opened since the half-yearand five have been closed taking the total number of stores to 429 including 27concessions. It is expected that a further 15 stores will be trading by theyear-end. Additionally, we have reached an agreement with House of Fraser toprovide carpet concessions in 18 stores, with the first store expected to openin May 2006. In Europe one store opened and one closed in the period leaving the total at 93stores. We plan to open a further three stores in the Netherlands and one inBelgium before the year-end. Lord Harris of Peckham, Chairman and Chief Executive, said: "We are satisfied with our overall performance. Our new store opening programmeis particularly strong within the UK and Republic of Ireland, and we are wellplaced to grow sales and market share in 2006. Our European business continuesto grow and we are on track to open two stores in Poland before the year-end aspreviously announced." The Group will report its pre-close trading update for the second half on 25April 2006. For further enquiries please contact: Carpetright plcIan Kenyon, Group Finance Director 01708 527732 Citigate Dewe RogersonPatrick Toyne Sewell / Sara Batchelor 020 7638 9571 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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