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Trading statements

Carpetright returns to quarterly sales growth in UK

31 January 2017 07:21

Carpetright saw a return to quarterly sales growth in the UK in the 13 weeks ended 28 January.

And it said the Rest of Europe continued to benefit from improved consumer sentiment and positive currency impact. It said the board remained comfortable with the range of market expectations for the group's full year profit.

In the UK, like-for-like sales for the four weeks to 28 January were up 6.8% while like-for-like sales for the 13 week period were up 1.9%.

In local currency terms, like-for-like sales in the Rest of Europe (Netherlands, Belgium and the Republic of Ireland) increased by 5.4%.

This translates to an increase of 22.4% in reported currency.

Chief executive Wilf Walsh said: "We are pleased to announce a return to quarterly like-for-like sales growth in the UK.

"Our trading performance over the last four weeks, with like-for-like growth of 6.8%, gives us confidence that our turnaround strategy is on track.

"The refurbished stores with our new brand identity continue to outperform the un-invested estate and we are confident of hitting our target of 150 stores - representing over one third of the UK estate by the financial year-end.

"Like-for-like sales growth in our Rest of Europe business was better than expected as consumer spending continued to recover in the Netherlands.

"Whilst the outlook for the UK consumer remains uncertain, we remain confident in our plan and are comfortable with the current range of market expectations."

Story provided by StockMarketWire.com

Related Company: CPR

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