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Carpetright in new profit warning

January 29, 2014

Carpetright has warned over profits for the second time in less than four months after dire trading in its Netherlands business offset a UK sales rebound. The floorings retailer saw UK like-for-like sales bounce back with a 1.9% rise in its third quarter to January 25 , but said "extremely difficult economic conditions" in the Netherlands would leave it nursing losses in its overseas division. Despite an expected increase in UK earnings over the full year, the Netherlands hit will see overall profits for the year to April miss City forecasts of between pound(s)9 million and pound(s)11m. The alert marks its second since early October, when founder Lord Harris of Peckham also made a return to the helm after the shock departure of chief executive Darren Shapland .

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Source: Herald, The (Scotland)

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