Carpetright PLC (LON:CPR) was under the cosh as the carpets and flooring retailer warned full year profits would be at the bottom end of market forecasts.
Consensus before today’s update for the year to April was for underlying profit before tax in a range between £13.9mln to £16.2mln.
Like-for-like sales in the UK are rose by 1.4% in the three months to 22 April said Wilf Walsh, chief executive, but conditions here got tougher during the period although economic confidence in Europe picked up particularly in the Netherlands.
Walsh said Carpetright has accelerated its refurbishment programme with 188 stores now rebranded and new outlets in Liverpool, Leeds and Bath.
Shares were at the bottom of the All-Share performers shedding 6% to 231p.