Carpetright FY profit to fall below forecasts

23rd Mar 2010 07:46

Carpet and floor coverings retailer Carpetright said the rate of recovery seen towards the end of 2009 has not been sustained and group profits for the year to 1 May 2010 are likely to fall below current market expectations."It is now clear that recent like for like sales growth, while remaining positive, has not returned to pre-Christmas levels and the recovery from weak trading in January has not been as significant as expected," warned chairman and chief executive Lord Harris of Peckham.Like for like sales in the UK and Ireland increased 1.4% in the seven weeks to 20 March compared to a 2.3% rise in the 13 weeks to 30 Jan 2010.Carpetright added that its business in The Netherlands and Belgium continue to trade well.