Carpetright has admitted that trading in the first half of its financial year has been “heavily impacted by disruption” from its CVA plan.
The floorings specialist did not provide like-for-like sales figures for the 26 weeks to October 27, but said same store sales “remained negative” during its second quarter.
However, Carpetright insisted it had seen “an improvement” in sales trends as its restructuring activity took effect and said it was “firmly on track” with its plan.
The business shuttered 67 underperforming stores during the half – 65 of which were in the UK – with six more expected to close before the end of the calendar year.
Carpetright said performance in the rest of Europe, where it operates stores in Ireland, the Netherlands and Belgium, was “slightly ahead” of the same period last year.
The business said it was “confident” of achieving the £19m of annualised benefits it set out as part of its recapitalisation plan back in May.
It will provide a further update as part of its interim results announcement on December 11.
Carpetright boss Wilf Walsh said: “This is a transitional year for Carpetright as we work through our restructuring plan. I am pleased to report that this activity is firmly on track and has started to yield benefits as we create a right-sized and well-located portfolio of stores on sustainable rents.
“We also continue to modernise our existing estate as well as investing in our digital capability.”