Lord Harris to extend Carpetright stay

Lord Harris has postponed his retirement from Carpetright as the company works on its turnaround plans.

city, business, money, cash, expert, saving, consumer, research, facts, banks, CarpetrightCarpetright has suffered a drop in sales in some parts of Europe [PA]

The executive chairman and founder of the 470-store chain was due to step down from the board in September but will now continue until a new chairman has been appointed and may remain on the board afterwards.

Earlier this year it was said Wilf Walsh, formerly of entertainment retailer HMV, would join as chief executive in July.

The retailer reported a profit before tax and one-off items of £4.6million in the year to April 26 compared with £9.7m the year before.

Carpetright’s turnaround plans include revamping its stores and website

UK sales fell 1.5 per cent but sales in Netherlands and Belgium fell 5.4 per cent.

Carpetright’s turnaround plans include revamping its stores and website.

Lord Harris said: “Although there are signs that the UK economy is improving with reduced unemployment, growing levels of consumer confidence and an increase in the number of housing transactions, we continue to assume we will trade in a subdued retail environment until the recovery is clearly established.”

Shares fell 4¾p to 494¼p.

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