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Carpetright Profit Down 18.9%

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Sounds like they are still spending money on expansion. If they are not careful they could spend their cash reserves (if they have any) before the market picks up properly. The current pick is likely to be short lived.

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LONDON (Reuters) - The country's biggest carpet seller, Carpetright (CPR.L: Quote, Profile, Research) , said on Tuesday that first-half pretax profit fell 18.9 percent due to a weak housing market and that market conditions remained challenging

http://go.reuters.co.uk/newsArticle.jhtml?...pTkr/GetContent

And i thought they were on a roll :D:D:D

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Interestingly I recently called in to a branch to sort out some carpet for an insurance claim (don't ask - it was stupid! :angry: ) I saw on the desk some faxed figures from a regional manager - the region - NW had only done approx 44% of target!

The best performing branch was Lancaster at 50ish%

Not good figures - (These can't be too confidential as they were on public display, although I understand if this post is edited)

This is a perfect example of an industry driven by HPI and now suffering as people feel the squeeze.

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"The group is well positioned to grow sales and profits as soon as the market improves" :D

I guess thats more PC than saying we're up for sale !

Big stores mean's big bang - just look how asda are struggling.

Two words to describe the retail market of 2006

'Consolidation, consolidation'

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Big drop, considering transaction numbers are supposedly up.

It menas that the new owners eiother cannot afford to or don't want to upgrade their property - stretched FTB's and second/third time buyers in the first instance SIPPERS and BTL'ers in the second.

They say that property market supports consumer expenditure, looks like the sort of property market we have now is beginning to kill it.

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Where are carpets manufactured these days. When I was younger I can remember a big carpet factory in Bradford, where my uncle worked - Allied Carpets or something like that. In fact I think carpet manufacture was one of the industries lost to Bradford (once one of the richest cities in the world).

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Maybe the industry has been hit by heavy tacks?

Come now, these attempts to wring comic potential from the Carpetright story are looking a little threadbare.

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I dont blame recession or debt for their demise.

I blame the disappearance of 'Shake N Vac'!

I think nowadays! AS always, CH4 and the like for these property programs!!!

They have made laminate and cheap wood lino the trend. There are loads of laminate specialists. No one wants to buy carpet nowadays. Years ago a bathroom used to have carpet. Cant say I agree with with wee-wee and spillage in other areas but it was common place.

Living rooms used to be carpeted but the wood/laminate floor with a nice rug seems to be the thing nowadays. Must be honest tho, its a lot easier to dust laminate than hoover.

I think carpets are not called for nowadays. The textile industry is probably dead and buried.

Bring back 'Shake N Vac' thats what I say!!

TB

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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