Carpetright Share Discussion Threads

[vic48] 05/2/2019 10:05

Alive and kicking...independents like us are taking a massive market share! Last week I had three Carpetright customers bring me in their quotes.. beat all of them. I have all the real conversion names for tapi and carpetright as they rebrand the carpet. Easy!!

[this_is_me] 05/2/2019 07:49

It looks like Danscarpets.co.uk has died

[aim11] 03/2/2019 08:03

Invincibles - I completely agree with you. I followed what kirkham tried to do to dfs, vindictively , and failed. Harris is the same , he fell out with Carpetright and went crying to his dad and mistakenly chose to use the family money to vindictively go to war with Carpetright. But they have made a big mistake. First Brexit weakened demand. Then Carpetright CVA and rights issue has allowed them to fight harder. And retail has changed, setting up a new carpet store firm is madness. No one with any rational sense about them would do it. Just like setting up Fabb Sofas. Ridiculous and only vindictive.

The Harris family net worth also isn’t that big. 100 million or so. They and Tapi investors lost 9mn in 2016, 10mn in 2017, and I expect another 10mn at least in 2018. The Tapi accounts also show that on top of the 2018 cash raised from investors (another 10mn) that they have 150mn!! in non cancellable lease commitments for stores, and have been using increased trade creditor terms to help reduce cash outflows in 2017.

I would expect Tapi investors patience in the Harris family is wearing thin with another cash call already rumored. If you’re losing over 10mn a year and have stretched working capital to the limit then something has got to give. I predict Tapi will be forced to liquidate within a year , the only way to escape the losses and massive lease commitments.

[invincibles1000] 02/2/2019 23:46

Read your posts Saltsquire, desperate - clearly you are an investor in Tapi. Heard they have been running round London trying to get more cash. Are you putting more in? Or did you lose it all at Fabb Sofas!! Kirkham persuading all those employees to leave DFS then the billionaire walked away leaving with nothing - shameful. Only a question of time before this happens at Tapi.

[meijiman] 02/2/2019 21:48

It's time for a profile piece of the grinning oaf in the papers.

[davycarpets] 27/1/2019 22:01

I did 29 years and can say last 4 were Lost !!!

[vic48] 27/1/2019 12:37

Hi Guys,

I've worked in the flooring industry for a long time. Still do. As a carpetright manager 16 years ago, so glad I left them. NOW as an independent we are so busy with contracts, 35 % up against last year!!
If I had advertising power like carpetright and tapi, we would take then down. They don't know how to look after staff or customers. All about customer service and overheads and great google reviews.
Danscarpets.co.uk

[daveten] 26/1/2019 17:02

Yes Both use outside fitting teams,
CR main problem from what i see, and hear is there management both at regional and store level are extremely bad and sure tapi have taken many or the more experianced staff but mostly just the yes men .. Both need a major rethink, Tapi seem to be living in the past (harris of old), dated promos, rapid expansion on high long unastainable leases. sad social media post about rivals and desperate to try to get staff off CR for the bragging rights, regaurdless of how bad they are. and CR seem to not have anyone in middle management able to run there regions to a good level, thus store level is suffereing ,, as we say we wait and see

[aim11] 26/1/2019 15:48

With the increase in use of online buying, why don’t the carpet manufacturers just start to sell carpet and rug direct? Rugs are easier because product is light and no fitting needed. But even carpet should be possible , carpetright and Tapi use independent fitters any way don’t they?

[daveten] 26/1/2019 15:39

Im concernred for both, being selfish as i fit for both. CR seem to be not doing as well as they liked, And Tapi seem to of failed to learn a thing from there last mistakes and there post on social media from some of there people come across as desperate. and from speaking to other fitters they are either selling alot of cheap take aways or not selling mush at all , work is very slow. but as said time will tell .

[aim11] 25/1/2019 13:07

Strange comments, Tapi doing great and Carpetright poor, I doubt that is true. The fact is Tapi got personal and have misjudged how costly this carpet retail war will be. They have both done poorly the last year, Tapi losing money faster than it expected as well.

[daveten] 24/1/2019 20:03

hmmmmm, wonder where you work haha, I fit for both, cant say either are that busy, but get a little more out of CR

[aim11] 22/1/2019 10:08

wasn't there supposed to be a trading update today?

[opodio] 26/12/2018 13:59

Very soon when is the next update

[opodio] 18/12/2018 19:10

5p next level

[loganair] 11/12/2018 16:20

11 stores are expected to close in the second half of the financial year.

There were 25 sites which had continued to trade without paying rent, where landlords had opted to allow Carpetright carry on paying business rates and avoid an empty unit on their retail park.



“As far as management and business performance goes, Carpetright looks well on track to hit our full-year forecasts,” Peel Hunt said, repeating a ‘buy’ rating on the stock.

“However, we take a cautious view on the macro environment on Brexit uncertainty into Q4 and cut UK sales forecasts by circa 2.5%, which translates to circa £3.5mln cut to full-year EBITDA forecasts.”



Neil Wilson, from markets.com, said there were some "encouraging signs" in Carpetright's results.

'The problem for Carpetright was simply that it had expanded too quickly with too many stores on bad sites with overly-long leases and upwards-only rent reviews.

'Action to tackle this singular problem has been swift and is paying off.'

"It's on course to deliver the £19m in annualised cost savings from the store closure programme," he said.

"Investors may also be encouraged that the average store lease has been reduced to 3.5 years, with more than half able to break within two years," Mr Wilson added.

[opodio] 11/12/2018 16:08

Carpetright losses widen as 'negative headlines' hit sales
The embattled flooring chain closed 65 stores over the first half of its financial year as part of a rescue plan.