Carpetright PLC Trading Statement (1854D)
January 27 2015 - 2:01AM
UK Regulatory
TIDMCPR
RNS Number : 1854D
Carpetright PLC
27 January 2015
27 January 2015
Carpetright plc
Trading Update
Carpetright plc, Europe's leading specialist carpet and floor
coverings retailer, today announces an update on trading for the 13
weeks ended 24 January 2015.
Highlights
-- UK
o Like-for-like sales (note 2) in the UK increased by 7.5%.
Total sales increased by 6.6%.
o Full year guidance of a decline in gross profit percentage of
between 100 and 150 basis points remains unchanged.
o Two stores were closed during the period, leaving 461 trading
locations.
-- Rest of Europe
o In local currency terms, like-for-like sales in the Rest of
Europe (Netherlands, Belgium and the Republic of Ireland) increased
by 1.7%. Total sales declined by 0.8%. After the impact of currency
movements this translates to a 6.0% decrease in total sales.
o Full year guidance of an increase in gross profit percentage
of around 250 basis points remains unchanged.
o Two stores closed during the period, leaving 137 trading
locations.
-- Full year expectations are unchanged.
Wilf Walsh, Chief Executive, said:
"I am pleased to report that the Group's trading performance
improved year-on-year during the third quarter.
"In the UK our continued focus on effective promotional activity
and the introduction of an interest free credit offer from Boxing
Day has delivered a like-for-like performance slightly ahead of the
level experienced in the first half. Sales in our Rest of Europe
business have also continued to improve.
"Trading remains in line with management's expectations and our
view for the year as a whole remains unchanged."
The Group will issue a pre-close update on Tuesday, 28 April
2015 and will report its preliminary results for the financial year
ending 2 May 2015 on Tuesday, 30 June 2015.
Analyst conference call
Carpetright will host a conference call for analysts at 08.30
GMT today.
The dial in number is +44 (0) 20 3003 2666 with the passcode
'Carpetright'.
Thereafter, for further enquiries please contact:
Carpetright plc
Wilf Walsh, Chief Executive
Neil Page, Group Finance Director
Tel: 01708 802000
Citigate Dewe Rogerson
Kevin Smith / Nick Hayns
Tel: 020 7638 9571
A copy of this trading statement will be available on our
website www.carpetright.plc.uk today from 7.00am.
Notes
1. All sales figures are quoted after deducting VAT.
2. Like-for-like sales calculated as this year's net sales
compared to last year's net sales for all stores that are at least
12 months old at the beginning of our current financial year.
Stores closed during the year are excluded from both years. No
account is taken of changes to store size or introduction of third
party concessions. Sales from insurance and house building
contracts are supplied through the stores and included in their
figures.
3. There have been no significant changes to the Group's financial position during the period.
4. Current range of market expectations for the year ending 2
May 2015 is for Group underlying profit before tax to be GBP9.4m to
GBP11.0m.
Appendix 1: Group Sales
Current Financial Year Previous Financial
Year
---------------------------------------------- ----------------------------------------- ---------------------------------
13 weeks 39 weeks 26 weeks 13 weeks 39 weeks
to to to to to 25 January
24 January 24 January 25 October 25 January 2014 (previously
reported)
2015 2015 2014 2014
(previously (previously
reported) reported)
---------------------------------------------- ------------ ------------ ------------- ------------- ------------------
UK
* Total 6.6% 5.5% 5.0% 0.6% (1.2%)
* Like-for-like 7.5% 6.8% 6.5% 1.9% 0.2%
Rest of Europe
* Total (in local currency) (0.8%) (1.8%) (3.7%) (7.5%) (8.6%)
* Like-for-like (in local currency) 1.7% (0.7%) (3.3%) (7.7%) (8.5%)
* Total (in GBP) (6.0%) (7.8%) (9.4%) (6.3%) (3.8%)
---------------------------------------------- ------------ ------------ ------------- ------------- ------------------
Group Sales (in GBP) 4.7% 3.4% 2.6% (0.5%) (1.7%)
---------------------------------------------- ------------ ------------ ------------- ------------- ------------------
Appendix 2: Store portfolio
Current Financial Year Previous Financial
Year
------------------------------------ ------------------------------------
Store portfolio 24 January 25 October 25 January Year end
2015 2014 2014
(previously (previously 28 April
2014
reported) reported) (previously
reported)
----------------- ----------------- ----------------- -----------------
Stores Sq Stores Sq Stores Sq Stores Sq
ft ft ft ft
------------------ ------- -------- ------- -------- ------- -------- ------- --------
UK
Standalone 450 3,974 452 3,993 457 4045 457 4,039
Concessions 11 18 11 18 16 29 15 27
Total 461 3,992 463 4,011 473 4,074 472 4,066
------------------ ------- -------- ------- -------- ------- -------- ------- --------
Europe
Republic of
Ireland 22 162 22 162 21 155 22 162
Netherlands 93 1,070 94 1,087 95 1,104 95 1,104
Belgium 22 257 23 273 26 307 25 298
Total 137 1,489 139 1,522 142 1,566 142 1,564
------------------ ------- -------- ------- -------- ------- -------- ------- --------
Total Group 598 5,481 602 5,533 615 5,640 614 5,630
------------------ ------- -------- ------- -------- ------- -------- ------- --------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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