Carpetright Sales Fall in First Quarter
London, England, Aug. 4, 2010--Britain's specialist carpet and floor covering retailer Carpetright Wednesday said group sales for the first quarter declined 2.5%, with the closing of operations in Poland accounting for 0.6% of the decline.
The company noted that it expected consumer demand across Europe to remain weak as it entered new financial year.
Lord Harris of Peckham, chairman and chief executive, said, "We remain cautious about the outlook for consumer spending for the balance of the year and as a consequence continue to manage the business by exerting tight control over all costs, capital expenditure, stock and cashflow. Gross margins in the UK are up on the previous year largely a result of managing promotional activity."
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