Furnishing fabrics group says sales remain in line with expectations

Furnishing fabrics and wallpapers supplier Colefax Group PLC has reported consistent trading as sales remain in line with expectations.

According to its latest trading update, held at its Annual General Meeting today (28 September 2023), David Green, Chief Executive, commented: “Since we announced our full year results on 8 August, trading conditions have remained in line with our expectations.

“In the Group’s core Fabric Division, sales for the 21 weeks to 23 September 2023 were down by 1% on a constant currency basis. Sales the US, which is our largest market accounting for 64% of the Fabric Division total, were down by 4% against strong prior year comparatives. Sales in the UK were up by 5% and sales in Europe were up by 2% on a constant currency basis.

“We have just entered our important autumn selling season and as reported when we announced our year end results, we are expecting trading conditions to become progressively more challenging due to the adverse impact of high interest rates on housing transactions and home spending.”

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