Carpet retailer narrows losses but still over £20m

Carpet and beds retailer Carpetright has reported sales of almost £380m while losses reached over £20m.

According to its latest filed accounts for the 14-month period ended 1 January 2022, total sales generated £372.6m. EBITDA resulted at a profit of £52.4m, while pre-tax losses amounted to £23.1m. The extended trading period was to algin with its parent company.

Over the previous reported period, 18-months to 31 October 2020, sales reached £493.2m, while losses resulted at £64.3m.

Commenting on its performance, Carpetright said: “Revenues were, unsurprisingly, extremely volatile throughout the reported period primarily due to trading restrictions enforced in reaction to the pandemic.

“Group revenue for the 14-month period was £372.6m (2020: 18-month period £493.2m). The movement principally reflects the difference in reporting periods and the significant impact of the global Covid-19 pandemic which spanned both periods.

“The group intends to invest heavily in the refurbishment of its store estate across the group and in developing class leading distribution infrastructure and digital capability.”

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