Rug you believe it, Carpetright profits are floored
It would appear that we're making do with our threadbare carpets for longer than we usual these days - or we're now all happy to tit about with MDF wood flooring for that warm and welcoming 1990s look. Either way, you're screwing with the profits of Carpetright, people.
In 2009/2010, the nationwide floormeisters recorded generous pre-tax profits of over £28 million. Come 2011, and Carpetright has just announced its third profit warning of the year, indicating that the company is likely to record less than £17 million in pre-tax profits.
Carpetright has nearly a quarter of the total flooring marketing but is struggling to hold its pricing at a time when the costs of raw materials are increasing, especially while their customers are eager for a bargain. The company has over 700 stores and branches in several other European countries. Just so you know.