25th Apr 2006 07:01
Carpetright PLC25 April 2006 Carpetright plc Pre Close Trading Update Carpetright plc, Europe's leading specialist carpet and floor coveringsretailer, today announces its pre close trading update for the second half ofthe financial year ending 29 April 2006. This covers the period from 30 October2005 to 22 April 2006. The UK and Republic of Ireland business has recorded a total sales increase inthe period of 3.7%, with like for like store sales up by 1.9%, compared to adecrease of 5.4% in the same period last year. Sales from net new spacecontributed growth of 3.6% although this was offset by the impact of the closureof the Allders concessions in February and March 2005. Gross margin hasimproved in line with our expectations and is expected to be up by at least 0.6%for the full year. Within the UK and Republic of Ireland 37 stores have opened since the end ofOctober and 15 have been closed, including seven of the BHS concessions, takingthe total number of stores to 437 including 36 concessions. As previouslyannounced, we have reached an agreement with House of Fraser to provide carpetconcessions in 19 stores, and the first of these opened in April 2006. Carpetright's European business continues to make good progress with totalproduct sales in local currency increasing by 12.8%. In Europe five stores opened, including Carpetright's first Polish store inGdansk, and one closed in the period leaving the total at 97 stores.Carpetright will open its second Polish store, in Warsaw, this week. Lord Harris of Peckham, Chairman and Chief Executive, said: "We are pleased with our current performance and have finished the year with aperiod of more positive trading. Our new store opening programme is strong,both within the UK and Europe, while our expansion into Poland is particularlyexciting. Whilst our markets remain challenging, we remain focused ondelivering our outstanding combination of product, price and service to all ourcustomers." The Group will report its full year results for the year to 29 April 2006 on 27June 2006. For further enquiries please contact: Carpetright plcIan Kenyon, Group Finance Director Tel: 01708 525522 Citigate Dewe RogersonPatrick Toyne-Sewell / Sara Batchelor Tel: 020 7638 9571 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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