Carpetright

Article Abstract:

Carpetright is a United Kingdom carpet retailer which has been affected by a slower UK residential real estate market in 1997. Some third of purchases of carpets are triggered by people moving house. Independent retailers are important in this sector, but the numbers of independents have dropped since 1998 and their stake in the market is likely to drop to 40% from some 60% in the five years from 1998. Carpetright aims to expand the number of its outlets to 450 from 300.

Management, Carpetright PLC

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Retailer on the carpet after share suspension

Article Abstract:

Allied Carpet has halted trading in its stocks while accounting irregularities are being investigated. Sales had been registered before they should have been, when carpets werepaid for, rather than received by customers. This could affect around 3% of the company's sales. The company's pre-tax profit for 1997 to 1998 has been downgraded to 10 million pounds sterling by SG Securities' Louise von Blixen, retail analyst. The previous forecast was for 12.6 million pounds.

Finance, Rug and carpet industry, Allied Carpet Stores Ltd.

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