Strong third quarter growth for Carpetright

In the third quarter of its fiscal year, Carpetright presented positive results once more after two difficult quarters with harsh market conditions.

New strategy is on track

In the three months leading up to 28 January 2017, the UK’s like-for-like turnover grew 1.9 % and European activities’ like-for-like growth reached 5.4 %, both better than what analysts had predicted. “We are pleased to announce a return to quarterly like-for-like sales growth in the UK. Our trading performance over the last four weeks, with like-for-like growth of 6.8%, gives us confidence that our turnaround strategy is on track”, CEO Wilf Walsh said.

By the end of its third quarter, the company had 427 stores in the United Kingdom and another 138 across Europe. Over the past quarter, it invested a lot into the stores’ modernization, with currently 120 already updated. Incidentally, these new stores also perform better than their older brethren.