London, England, July 3, 2006--Flooring retailer Floors 2 Go has warned profits will again come in below expectations after another tough six months, according to Sharecast.
Like-for-like sales in the 26 weeks to June fell by 8.6% with total sales down by 2%, though this represents an improvement on the first two months of 2006 when like-for-like sales were down 15.8% and total sales 9.7% lower.
"Although we are pleased to report improving underlying trends at this stage, the market remains difficult and we therefore expect the profit outcome for the full year to be very marginally below current market expectations," the company said.
The statement said operational cash flow remained positive and it is pursuing cost cutting throughout the business.
At end June, Floors 2 Go had 139 stores with plans to open up to seven more before the end of the year.
