Snow hits sales and profits at Carpetright

Carpetright, Britain's biggest floor coverings retailer, warned full year profit would be below market expectations after third quarter sales were dented by adverse weather and fragile consumer confidence.

"Given the difficult trading conditions and the likely outturn for the balance of the year, the board now expects profits for the year to April 30 2011 will be below last year and below the current range of market expectations, although ahead of those achieved in the 2009 full year," chairman and chief executive Philip Harris, said on Tuesday.

Carpetright said sales at UK and Ireland stores open over a year fell 7.7% in the 13 weeks to January 29.

That represented a further slowdown from a first half decline of 6.1%.

Like-for-like sales at stores in The Netherlands and Belgium fell 5.0%, having been down 2.9% in the first half.

Shares in Carpetright have lost 19% of their value over the last year.