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Credit plan helps to increase business at Carpetright

By Roger Baird

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.

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