Carpetright Shares Crash on Latest Profit Warning

Europe's largest floor covering firm is the latest retailer to see a profit warning punished by a severe share price reaction

James Gard 19 January, 2018 | 9:41AM
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Carpetright

Carpetright (CPR) is the latest British retailer to suffer a share price plunge after a profit warning. The company’s shares crashed 45% to 90p on Friday morning after it said that trading had declined sharply in the post-Christmas period and revised full-year profit downwards.

The largest floor covering firm in Europe said on Friday said like-for-like sales declined 3.6% in the 11 weeks to January 13, while total sales were down 2.3%. The firm said there has been a sales decline of 7.1% since Christmas in core flooring.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Aberforth Smaller Companies Ord1,486.01 GBP0.27
Fidelity Special Values Ord301.02 GBP0.84Rating
JOHCM UK Growth GBP A Inc4.19 GBP0.41Rating
Mothercare PLC16.83 GBP0.00

About Author

James Gard  is content editor for Morningstar.co.uk