UK’s Carpetright Q1 Sales Up More Than Expected

London, England, August 7, 2007–Carpetright PLC, the UK’s largest floor coverings retailer, has reported better-than-expected sales in its first quarter but stayed silent on the prospect of a buyout by Lord Harris of Peckham, its founder, chairman and chief executive, according to AFX News.

The 650-store group said total group sales over the 13 weeks to July 28 increased 16.7%.

Sales in the UK and Ireland increased 16.6% and were up 2.4% factoring out new and closed stores.

Carpetright said sales in Belgium and the Netherlands was robust, with total sales increasing 15.6%. It said Poland continues to trade in line with expectations.

‘The group has had a solid start to the year and continues to gain market share,’ said Harris.

“We still expect a challenging retail environment and will continue to cut costs in the business, relocate to smaller stores where appropriate and focus on cash generation.”

The retailer announced on June 15 that Harris, whose family already own 24.7% of its equity, had been granted permission by an independent committee of the board to explore a possible acquisition.