Carpetright CEO to leave as profit warning issued - UPDATE
4th Oct 2013 07:03
Carpetright announced the departure of Chief Executive Darren Shapland as it warned falling sales meant full year profits would be 'significantly' below its previous expectations. The carpet retailer said founder and Chairman Lord Harris of Peckham would take control and become full-time Chairman.
Read moreCarpetright accused of promoting misleading sales
23rd Aug 2013 15:14
Carpetright is among six furniture and carpet retailers who have been ordered by Britain's watchdog to stop misleading consumers by inflating prices before sales promotions. The Office for Fair Trade (OFT) said the stores had all tricked customers into believing they were getting a bargain by adver
Read moreCarpetright posts fall in sales
23rd Jul 2013 13:48
Carpetright reported a drop in like-for-like sales in the UK and Europe in the 12 weeks to July 20th. Like-for-like sales in the UK fell by 1.9% as the store base was scaled back by five during the period to 473. Gross profit in the UK improved by 80 basis point (bps). In the Rest of Europe, which
Read moreTuesday preview: PZ Cussons unveils full-year results
22nd Jul 2013 13:39
Consumer products giant PZ Cussons will on Tuesday unleash its preliminary results for the full-year to end of March. Last month in a trading update, the company said its annual earnings were in line with expectations as it delivered a return to profitable growth for the year. Without providing an
Read moreCarpetright underlying profit more than doubles
25th Jun 2013 07:32
Carpetright, the flooring retailer, said underlying pre-tax profit more than doubled as like-for-like (LFL) sales in the UK increased while Rest of Europe sales fell. The economic bellwether said UK LFL revenues increased by 2.2%. Excluding the expected contraction in sales from the wholesale busin
Read moreTuesday preview: US economic data in focus
24th Jun 2013 13:00
A batch of US economic data on Tuesday will take centre stage after the Federal Reserve last week announced plans to end its quantitative easing programme next year if recovery continues. A US durable goods report for May is expected to show a 4.5% rise on the month compared to 3.3% in April. The
Read moreCarpetright appoints new executives to free up outgoing CEO
2nd May 2013 12:54
Carpetright announced Thursday the appointment of Graham Harris as Trading Director and Martin Harris as Group Development Director. It comes after the carpet and flooring retailer said its founder and Chief Executive, Lord Harris, would hand over the company to former Finance Director, Darren Sha
Read moreTuesday broker round-up UPDATE
30th Apr 2013 08:20
Aberdeeen Asset Management: Morgan Stanley raises target price from 478p to 548p retaining an overweight rating. Bank of America ups target price from 455p to 475p and leaves its neutral rating unchanged. JP Morgan increases target price from 532p to 573p and maintains an overweight rating. Citigrou
Read moreWednesday broker round-up UPDATE
24th Apr 2013 08:25
Archipelago Resources: Canaccord Genuity lowers target price from 75p to 68p keeping a buy recommendation. ARM Holdings: Morgan Stanley ups target price from 911p to 925p maintaining an equal-weight rating. Deutsche Bank takes target price from 445p to 460p, but still recommends selling. Citigroup
Read moreLondon pre-open: FTSE edges higher ahead of Eurozone data
23rd Apr 2013 07:25
City sources predict the FTSE 100 will open up two points from yesterday's close of 6,281, as investors balance expectations of Eurozone data with figures out from the US yesterday and China last night. Overnight China's composite index showed manufacturing was down 2.12% to 2,194, while in the St
Read moreCarpetright trading continues in line with expectations
23rd Apr 2013 07:01
Carpetright, the flooring covers retailer, has said like-for-like (LFL) sales in the UK in the 12 weeks to April 20th grew 5.6 per cent, while total sales increased 4.4 per cent. However, as anticipated LFL sales in the Rest of Europe decreased 10.2%, with a solid performance in Belgium and the Re
Read moreThursday broker round-up UPDATE
4th Apr 2013 07:32
Aviva: Bank of America cuts target price from 350p to 335p, while its neutral rating remains unchanged. Barratt Developments: Credit Suisse revises target price from 223p to 317p, while staying with its neutral rating. Bellway: Credit Suisse moves target price from 1202p to 1639p and leaves its ou
Read moreSector movers: M&S bid speculation lifts retailers higher
18th Mar 2013 15:33
Increased M&A speculation on the High Street boosted the general retail sector higher on Monday, with department store Marks & Spencer (M&S) surging after a rumoured takeover bid by Qatar. M&S's shares rose as much as 9.0% in early trading after The Sunday Times reported that the Qatar Investment A
Read moreCarpetright Chairman sells 150,000 shares
15th Mar 2013 16:22
Carpetright, the flooring retail specialist, has announced that Lord Harris of Peckham, the group's Chairman, has sold 150,000 shares in the company. The shares were sold at 650p each, for a total of £975,000 before tax. Following the transaction Harris owns around 12.4m shares, equal to 18.32%
Read moreLondon midday: Markets cautious ahead of US data, earnings
29th Jan 2013 11:45
UK stocks were slightly lower by Tuesday lunchtime with markets pausing for a breather after hitting multi-year highs, as investors awaited economic data and corporate earnings in the US. So far in January, the FTSE 100 has risen nearly 400 points, representing a 6.6% jump. Stocks initially start
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