Home Business NewsBusiness Shares in Carpetright tumble

Shares in Carpetright tumble

25th Apr 17 10:37 am

These are the figures

Shares in Carpetright managed to tumble eight per cent in early trade, this came after the retailer said its full-year profits would be at the lower end of forecasts.

Over the past three months the firm said it had “experienced tougher trading conditions” in the UK.

In the quarter like-for-like sales had risen by 1.4 per cent, this was a slowdown on the previous three months where it saw a growth of 1.9 per cent.

As well as this shares in Whitbread also fell after it reported its annual results.

The owner of Costa coffee and Premier Inn Hotel chain saw its underlying pre-tax profits rise by 6.2 per cent in the year leading up to the 2 March, its revenues were up 8.2 per cent to £3.1bn.

However, its shares managed to drop by five per cent after Whitbread said it remained “cautious” about the next 12 months.

The FTSE 100 share index was steady during early trade as it edged up 8.51 points to 7,273.19.

On the currency markets the pound managed to edge up by 0.1 per cent against the dollar to $1.2808, it was unchanged against the euro at 1.1767 euros.

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