Furnishing fabrics and wallpaper group, Colefax, has reported flat UK sales as trading remains in line with expectations.
Commenting on its recent performance at its AGM, David Green, Chief Executive, said: “Since we announced our full year results on 17 August, trading conditions have remained in line with our expectations.
“In the Group’s core Fabric Division constant currency sales for the 21 weeks to 23 September 2022 were up by 1% in the US and flat in the UK. The US is our largest market accounting for over 65% of Fabric Division sales and the UK is our second largest market accounting for 17% of Fabric Division sales.
“We have just entered our important autumn selling season and as previously reported we are expecting trading conditions to become more challenging in the second half of the year. This is primarily due to a slowdown in housing transactions in the US and the UK. The Group is well placed to deal with these market conditions.”