Carpetright Woes

Carpetright Woes.

Carpetright a flooring firm in the UK has seen profits widen over the year to April. The group which described this as a “challenging time” saw a pre-tax loss of £7.2m, up from the year before which saw a pre-tax loss of £5.1m.

The group are taking steps to help develop the business including refurbishing 89 of its stores in an effort to make it easy for customers to shop. A similar refurbishment plan in Europe has seen the modernisation of 33 of its total 142 stores. They store chain will also invest more into its bed business.

The group has issued three profit warnings over the past nine months and the most recent news is that the founder of Carpetright Lord Harris has changed his mind over leaving the group’s board.

The group has seen total sales fall by 2.2% despite a rise in the housing market which would have led to more people having to decorate.