Essential reading for retailers and suppliers in the home improvement market

Carpetright issues profit warning, parts with CEO

Published: 8 October 2013
Carpetright chief executive Darren Shapland is stepping down from the role - which he has occupied for less than two years - and from the retailer's board, with immediate effect.
Carpetright issues profit warning, parts with CEO
The company made the announcement as it warned that the group's full-year profit is set to come in well under expectations.

A management reshuffle has also seen chairman Lord Harris of Peckham become full-time executive chairman, while Graham Harris, currently Carpetright's trading director, is joining the board and becoming chief operating officer. He joined the company four months ago.

Lord Harris of Peckham said: "I'm disappointed that Darren Shapland, who has made a significant contribution to Carpetright over the last 17 months, is leaving the business, but he does so with our thanks and we wish him well for the future."

Like-for-like UK sales in the 10 weeks ending September 29 were down 2.5%, casting a shadow over the retailer's annual results.

"As a result of a combination of a softer UK market and a further step down in the Netherlands, it is likely the group's full-year profit will be significantly below our previous expectations," said Lord Harris.

"Our self-help activities continue to deliver growth, although the underlying market remains soft despite recent improvements to mortgage approvals and consumer confidence.

"Whilst we have improved the margin and maintained a tight control on costs, the shortfall in sales in this trading period is lowering our previous expectations."

Comments


(Your email address will not be published)
8 + 7 =  
Already Registered?
Sign In
Not Yet Registered?
Register
Printable View E-mail Bookmark
*

Latest reader comments

re: Latest update on Green Homes Grant and implications for homeowners and landlords

John Hart
After applying for a green homes how long will it take for a decision? thanks...

re: SX Rainproof Exterior Caulk

Wally
I need the exterior sx rain resistant caulk! Can't get it anywhere so please help! How can I order it? Need it yesterday...

re: BCT can replicate any material in a ceramic tile

Christina Tiritanou
Not sure if you can help as I require a tile which has the measurements of 6”x 6”? Thank you....

re: Latest update on Green Homes Grant and implications for homeowners and landlords

colin thompson
SarahVery clear and helpful information.Thanks...

Most read stories