Carpets laid low

CARPETRIGHT shares fell 65p to 99½p as it slashed its forecast after a sales slump.

The floorcoverings retailer said trading had been “significantly behind expectations” as consumers reined in on big-ticket items.

Sales at UK stores were down 3.6 per cent in the 11 weeks to January 13, including a sharp drop in bed sales.

The firm said it stood up well to competition and transaction values were up. Annual profit forecasts have come down from £14million to £2-6million.

Chief executive Wilf Walsh cited “reduced consumer confidence”.