Rug you believe it, Carpetright profits are floored

28 April 2011

retail deathwatchIt 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.

[The Telegraph]

TOPICS:   High Street News

2 comments

  • Dick
    Carpetright also sell wooden floors.
  • Alex
    £17m pre tax profits and deathwatch shouldn't be in the same article. Granted, cashflow often causes profitable companies to go out of business but retailers don't tend to offer credit to customers...

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