Carpetright issues full-year profit warning

Carpet and floor coverings retailer Carpetright has warned that full-year underlying pre-tax profit is expected to be below the lower end of forecasts "based on the current pace of sales and margin improvement".

Carpet and floor coverings retailer Carpetright has warned that full-year underlying pre-tax profit is expected to be below the lower end of forecasts "based on the current pace of sales and margin improvement".

Group sales fell 3.8% in the 12 weeks ended January 21st (fiscal third quarter), more or less in line with the rate of decline seen in the first half, as falling UK sales (-4.8%) offset growth in Rest of Europe (+1.1%).

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