Carpetright Stock Falls on ‘Cautious’ Outlook

London, England, Sept. 23, 2008–Carpetright Plc, the U.K.’s largest carpet retailer, had its shares slide as much as 7.1 percent in London trading after saying it remains “cautious” on the outlook for the year because of deteriorating financial and housing markets.

Business in October and November “could materially affect the year-end result,” the company said today in a statement released ahead of a visit by analysts to its offices in southeast England.

The carpet retailer said last month that this year would be “one of the most difficult” it has ever faced. U.K. house prices fell for a fourth month in September as the global credit crisis intensified.

Carpetright, which is 5 percent owned by Bill Gates’ private investment fund, acquired Dutch floor-covering retailer Ben de Graaff Tapijit in June, in a push to increase European sales as the U.K. and Ireland continue to slow.

The company has 550 stores, with 127 stores in the Netherlands, Belgium and Poland.