Carpetright has spring in its step

By THIS IS MONEY
Updated:

 

CARPETRIGHT, Britain's largest floor coverings group, today shrugged aside fears of a slowdown over Easter by showing it was on track to hit profit goals this year.

Like-for-like sales in the first 24 weeks of the second half to 1 May were up 4.2% in the group's UK stores, with a similar growth rate registered at the Easter weekend.

Sales of laminate floorings rose by more than 200%. Finance director Darren Shapland said: 'We were late in the day on laminates as we thought it would be a fashion, but it's a long-term trend.'

Carpetright's move into laminate last September and cost-cutting moves have helped the group defy critics worried it may suffer as shoppers tighten their belts.

Analysts believe profits for the year to 1 May will come in at £63.5m, against £53m a year ago. Shapland said the group would be in line with expectations.

He added: 'In terms of our market in total, carpet and flooring is flat, but we are putting on 4% like-for-like, so we are taking market share.'

Carpetright's bullish note comes just days after shopping centre monitor Footfall sparked fears of an Easter blip by saying customer visits were down as much as 3.8% over the holiday.

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