Carpetright losses increase because of the Netherlands

Carpetright losses increase because of the Netherlands

Carpetright has increased its losses as the British flooring specialist has closed its fiscal year with a pre-tax loss of 7.2 million pounds (some 9 million euro), blaming mainly the Netherlands.

Huge sales drop in continental Europe 

The turnover in its past fiscal year dropped 2.2 % to 447.7 million pounds (or 560 million euro), but the British chain managed to keep the sales drop relatively low in its home market, namely 1.5 %. The rest of Europe (which is Ireland, Netherlands and Belgium for this particular company) experienced a far greater turnover drop, namely 5.4 %.


The like-for-like comparison is even more striking as the British numbers dropped 0.2 % while the rest of Europe dropped 8.6 %.


Carpetright mainly blames the weak Dutch market, where consumers spend a whole lot less on the decoration of their house, which impacts both the company's turnover and its profit position.


Operating income halved

The entire situation led to the operating income dropping from 9.7 million pounds to 4.6 million pounds (or 5.8 million euro). If one-time costs are added into the calculation, then the 5.1 million pound loss in 2013 grew to 7.2 million pounds now (9 million euro).


"We anticipate trading conditions will remain challenging", soon-to-be-former chairman Lord Harris said. On 21 July, Wilf Walsh will become his successor after plying his trade at music chain HMV and bookmaker Coral.

Questions or comments? Please feel free to contact the editors

Unibail-Rodamco acquires competitor Westfield


Unibail-Rodamco acquired its competitor Westfield for 14 billion euro and will gain control over 35 shopping center (33 in the United States). The resulting company will become the world’s largest real estate company.  

Mitiska REIM announces two new retail parks in Romania


Mitiska REIM has announced the opening of two new retail parks in Romania. The new additions consolidate Mitiska REIM’s position as the leading retail park investor in Romania, with 21 sites across the country.

Mitiska Reim buys its first French retail park


Belgian real estate firm Mitiska Reim will enter the French retail market with its recent acquisition of a retail park near Caen. It has been an eventful year so far, with acquisitions in Germany, Romania and Spain as well. 

Delhaize is highlight of new shopping center in Luxembourg


Shopping center Borders has just opened its doors, right near Schengen. The largest Delhaize store in the Grand Duchy of Luxembourg is its major attraction and should house about two dozen retailers in the near future.

Mitiska Reim acquires its first German retail park


Belgian real estate firm Mitiska Reim bought a retail park in the German city of Mönchengladbach. It was a collaboration with Luxembourg Investment Group and the group’s first German acquisition.

European retail rental prices continue to soar


A recent study from research firm CBRE shows that rental prices for Europe’s most expensive retail locations are still on the rise. It is the only region that still experiences growth for retail real estate.

Back to top