Carpetright on track despite retail turmoil
Carpetright has said its performance remains in line with expectations and it is on target to achieve its targeted £19m of annualised cash savings.
In a trading update, the carpet and floor coverings retailer also reported that, as anticipated, UK like-for-like sales remained negative for the 13 weeks to 26 January 2019, with trading patterns volatile week to week, against a backdrop of uncertainty and weak consumer confidence.
Trading in the rest of Europe, meanwhile, has been tracking consistently ahead of the same period last year, driven by a strong performance in the Netherlands, Carpetright said.
Carpetright has said its performance remains in line with expectations and it is on target to achieve its targeted £19m of annualised cash savings.
In a trading update, the carpet and floor coverings retailer also reported that, as anticipated, UK like-for-like sales remained negative for the 13 weeks to 26 January 2019, with trading patterns volatile week to week, against a backdrop of uncertainty and weak consumer confidence.
Trading in the rest of Europe, meanwhile, has been tracking consistently ahead of the same period last year, driven by a strong performance in the Netherlands, Carpetright said.
Carpetright also announced that its chief financial officer Neil Page is to retire after more than 10 years in the role. He will step down from the board on 25 February 2019 but will continue to work in the business until the end of the financial year on 30 April 2019.
Page will be succeeded by Jeremy Simpson, who was previously chief financial officer at Sureserve Group (formerly Lakehouse) from 2014. He has also held positions at Hunting, Shanks Group, KPMG, Smiths Group and EY.
Wilf Walsh, chief executive at Carpetright, said: “As CFO, Neil has made an outstanding contribution to Carpetright over many years and the board wishes to express its gratitude for his unstinting commitment to the business, particularly through the recent challenging period of restructuring. We are delighted that Jeremy is joining us as CFO, he has a strong plc track record and will be able to integrate swiftly into the executive team.”
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