|Bid||0.00 x 55500|
|Ask||0.00 x 520000|
|Day's range||180.00 - 185.00|
|52-week range||149.00 - 259.00|
|PE ratio (TTM)||185.00|
|Dividend & yield||N/A (N/A)|
|1y target est||N/A|
Britain's FTSE inched lower on Tuesday, weighed down by losses among pharma stocks, while updates from Carpetright and Debenhams gave conflicting pictures of the health of British consumers as inflationary ...
Retailers Carpetright and Debenhams (Frankfurt: D2T.F - news) have become the latest to fall victim to the tough consumer environment as earnings and sales struggled. Carpetright (Other OTC: CGHXF - news) reported a 93% fall in pre-tax profits to £900,000 for the year to 29 April, largely because of a one-off charge related to its loss-making stores. Carpetright chief executive Wilf Walsh said the group faced "a challenging consumer environment and competitive landscape" but was confident it could grow market share.
Shares (Berlin: DI6.BE - news) in Carpetright (Other OTC: CGHXF - news) slumped 8% after it warned slowing sales growth had knocked its profit expectations. The company said like-for-like sales at its UK stores grew by 1.4% in the 12 weeks to 22 April, its fourth quarter, compared to a rise of 1.9% over the previous three months. Carpetright, which is the country's largest flooring retailer, said the deterioration meant annual profits would now come in at the lower end of market forecasts.
Britons are starting to feel the strain of rising prices after last year's vote to leave the European Union sent the pound plunging, recent data and industry surveys have indicated. Official data last week showed British retail sales recorded their biggest quarterly fall in seven years at the start of 2017, while on Monday a survey from Deloitte said consumer confidence softened last month. Now (Frankfurt: 11N.F - news) individual companies are spelling out the impact of a deteriorating consumer market as rising inflation and muted wage growth dents disposable income, hitting their shares.
Carpetright (Other OTC: CGHXF - news) forecast full-year profit at the lower end of market expectations on Tuesday as quarterly sales growth slowed at Britain's largest floor coverings retailer, adding to evidence of deteriorating UK consumer confidence. Carpetright said sales at UK stores open over a year rose 1.4 percent in the 12 weeks to April 22 - slowing from third-quarter growth of 1.9 percent. "In common with other retailers in the home improvement sector in the UK we have experienced tougher trading conditions over the last three months," said Chief Executive Wilf Walsh.
Britain's biggest floor coverings retailer Carpetright (Other OTC: CGHXF - news) forecast full-year profit at the lower end of market expectations as sales growth slowed in its fourth quarter, adding to evidence that UK consumer confidence is deteriorating. Carpetright, whose fortunes are closely tied to the strength of the housing market, said on Tuesday sales at UK stores open over a year rose 1.4 percent in the 12 weeks to April 22. "In common with other retailers in the home improvement sector in the UK we have experienced tougher trading conditions over the last three months," said Chief Executive Wilf Walsh.
Carpetright (Other OTC: CGHXF - news) has reported a slump in profits after it was hit by sliding sales and the weak pound. "The market is extremely competitive and the impact of currency movements have combined to give us substantial trading headwinds," he said.