Carpetright PLC Trading Update (0081X)

TIDMCPR

RNS Number : 0081X

Carpetright PLC

25 April 2019

Carpetright plc

Trading Update

Carpetright plc, Europe's leading specialist carpet and floor coverings retailer, today announces a trading update for the 12 week period to 20 April 2019.

Trading Update

 
 --   The Group's overall trading performance in the period was in line with expectations 
 --   The UK like-for-like sales trend improved significantly in the fourth quarter, compared to 
       the year to date, as customer confidence in the business started to return following the Group's 
       restructuring last year 
 --   Trading in the Rest of Europe has continued to track ahead of the same period last year, driven 
       by a strong performance in the Netherlands 
 --   We remain on target to achieve the previously-announced GBP19m of annualised cash savings 
 

Wilf Walsh, Chief Executive, said:

"This has been a transitional year for Carpetright and we remain on track both with our recovery plan and our strategic initiatives. The actions taken are driving improvement, particularly in the invested store estate, and the brand remains strong. Whilst consumer confidence remains challenged in the UK, the work we have done to reposition the business is starting to deliver the benefits necessary to put Carpetright back on the path to sustainable profitability."

Carpetright will announce its results for the 52 weeks ended 27 April 2019 on 25 June 2019.

For further enquiries please contact:

 
 Carpetright plc 
 Wilf Walsh, Chief Executive 
 Jeremy Simpson, Chief Financial Officer 
 Tel: [phone] 
 
 Citigate Dewe Rogerson 
 Kevin Smith / Nick Hayns 
 Tel: [phone] 
 

LEI: 213800GO32BSNNHXID90

Further information on Carpetright plc, including an alert service for latest company news, can be found at http://www.carpetright.plc.uk/

A copy of this trading statement will be available on our website from 7.00am today.

Notes to Editors:

Carpetright plc is Europe's leading specialist floor coverings and beds retailer. Since the first store was opened in 1988 the business has developed both organically and through acquisition within the UK and other European countries. The Group is organised into two geographical regions, the UK and the Rest of Europe (comprising The Netherlands, Belgium and the Republic of Ireland).

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

TSTEAKLLAANNEFF

(END) Dow Jones Newswires

April 25, 2019 02:00 ET (06:00 GMT)