Carpetright says that trading for the year to date is in line with management's expectations and its view for the year remains unchanged.
In a trading update for the 12 weeks ended October 13th it announced that like-for-like sales in the UK increased by 0.6%, although total sales in the UK declined by 0.6% due to the reduction in the number of stores year on year.
In the rest of Europe (Netherlands, Belgium and the Republic of Ireland), total sales declined by 12.2%.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Darren Shapland, Chief Executive, said: "Gross margin for the period continued to improve in line with our previously announced expectations and our guidance of a full year gross margin improvement in the range of 200-250 basis points above the prior year, remains unchanged. The majority of this margin improvement will be realised in the first half, as we annualise the margin improvement measures implemented in the second half of last year."
The group will report its interim results for the first half of its financial year on December 11th.
Consensus forecasts for the full year ending 30 April 2013 are for pre-tax profits of £9.34m (2012: £13.50m) on turnover of £466.80m (2012:£471.50).
CM
-
Ofgem proposes new energy tariffs with low or no standing changesStanding charges have invited public backlash as households battle high energy bills
-
Google shares bounce on Gemini 2.0 launchGoogle has launched the latest version of its Gemini AI platform, and markets have responded positively. Is it time to buy Google shares?
