Unexpected drop in sales for carpet retailer
Despite the positive messages from the flooring sector for the year ahead, a leading carpet retailer has already been forced to issue another profit warning.
Early indications have given a hopeful outlook for the year ahead in the flooring industry with forecasts for increasing sales and flooring awards being received by many companies.
However Carpetright has had to issue a further profit warning after takings dropped over the three months up to mid-January.
This is bad news for the firm as last year’s profits were low for most high street at this time as consumers chose not to brave the adverse weather conditions.
Analysts had to amend the predicted yearly profits for the carpet retailer after the latest warning but the firm’s chairman remained upbeat after seeing improvement at renovated stores.
The hopeful start to the year within the flooring industry was unaffected by gloomy predictions of a potential double dip recession.
However the effects of the economic climate cannot be underestimated for many retailers in the current market.