Credit plan helps to increase business at Carpetright
Floor coverings retailer Carpetright showed signs of progress after revealing it is on track for stronger than expected annual profits.
The Essex-based firm, which runs 459 UK stores including seven in Northern Ireland, said strong trading momentum saw its like-for-like sales jump 10.5% in the 12 weeks to April 18.
The business now expects its profits for the year to May 2 to reach £13m, topping City forecasts of between £10m and £11m. Shares jumped 7%.
The retailer, under chief executive Wilf Walsh, has focused on a more contemporary market, and has kept discount levels under tight review while also introducing interest free credit to the business on Boxing Day.
It has launched a trial of smaller high street stores, which will feature a sample-only premium product, and has emphasised the importance of the internet for driving customers into its shops.