Trading Update

9 Oct 2007 07:01

Carpetright PLC09 October 2007 Carpetright plc Pre First Half Close Trading Statement Carpetright plc, Europe's leading specialist carpet and floor coveringsretailer, today announces its first half trading update for the first 23 weeks(representing the period 29 April to 6 October 2007) of the 53 week year endingon 3 May 2008. We are pleased to announce that Group sales have increased by 10.3% and thestore base has increased to 658 stores. The UK and Republic of Ireland business, including Storeys, has recorded a totalsales increase of 9.8%. Like-for-like sales (which excludes Storeys) havedeclined by 0.8% whilst the gross margin has increased by over 1%. The Rest of Europe (Belgium, The Netherlands and Poland) has recorded a totalsales increase of 13.8% with like-for-like sales up by 8.1%. Within the UK and Republic of Ireland 21 stores have opened and 17 stores haveclosed taking the total number of stores to 546 including 32 Storeys stores.Across the Rest of Europe, the Group has opened two stores in Poland and one inThe Netherlands taking the total to 112 stores. The Group has continued to take direct action on the cost base. The continuingroll-out of the new store system (Navision) has enabled UK staffing levels to bereduced by over 100 people since the end of January 2007. In addition, theGroup has sublet space in over 50 stores to Sleepright, a start-up bed retailformat. The transfer to the new national distribution centre is proceeding to plan, asis the integration of Storeys. These initiatives will lead to one-off costs ofapproximately £7 - £10 million. Lord Harris of Peckham, Chairman and Chief Executive, said: "We are pleased with our overall performance across the Group particularly inEurope. I believe that our market share is increasing in all our markets.Trading conditions in the UK and RoI remain uncertain but we are continuing tooffer our customers outstanding value, through strong promotions, and we willcontinue to cut costs where possible, relocate to smaller stores whereappropriate and focus on cash generation." The Group's interim results for the six months to 27 October 2007 will bepresented on 11 December 2007. For further enquiries please contact: Carpetright plcIan Kenyon, Group Finance Director 01708 525522 Citigate Dewe RogersonKevin Smith / Fiona Mulcahy 020 7638 9571 9 October 2007 Carpetright plc Pre First Half Close Trading Statement 2007 2006Store Base - Numbers 6 October 2007 28 April 2007 28 October 2006 29 April 2006 UK & RoI Large 377 374 367 355 Small 71 65 64 45 Concessions 66 73 63 40 Storeys 32 - - - 546 512 494 440Rest of Europe Belgium 28 28 28 28 The Netherlands 76 75 70 68 Poland 8 6 3 2 112 109 101 98Group Total 658 621 595 538 2007 2006Store Space - Sq Ft ('000) 6 October 2007 28 April 2007 28 October 2006 29 April 2006 UK & RoI Large 3,595 3,601 3,591 3,486 Small 355 329 320 230 Concessions 142 154 146 105 Storeys 345 - - - 4,437 4,084 4,057 3,821Rest of Europe Belgium 347 347 347 347 The Netherlands 912 903 854 836 Poland 83 63 35 23 1,342 1,313 1,236 1,206Group Total 5,779 5,397 5,293 5,027 This information is provided by RNS The company news service from the London Stock Exchange