Business News

Chill on the UK high street continues

Carpetright warned on profits

Carpetright warned on profits for a second time today in just two months, slashing full year profit expectations whilst also confirming that it was in talks with its lenders to ensure that it complies with the terms of its banking facilities.

The brutal winter hanging over the UK retail sector is showing no signs of letting up, as it moves further down the British high street.

Consumers reining in their spending, in addition to an online shopping revolution is sending a chill down the spine of UK retailers.

Shares in Carpetright have been on a downward trajectory for the past decade, dropping steadily from 911p back in 2010 to 173p at the beginning of the year.

Today investors once again showed their concern for the health of the business jumping from the stock in droves, sending it another 25% lower to an all-time low of 57p

Fiona Cincotta, a senior market analyst at www.cityindex.co.uk

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