Floored: Carpetright nurses losses as retailer continues to restructure

Carpetright has swung to a loss as the retailer battled with rapidly declining sales and pushed through store closures in a bid to stay afloat. The retailer made an underlying loss before tax of £8.7 million for the year to 28 April, having made a profit of £14.4m the year before. Carpetright’s statutory loss before tax was £70.5m, compared to a profit of £900,000 in the prior year, which the firm said was driven by the cost of its store closure programme. Group revenue fell by 3 per cent year-on-year, from £457.6m to £443.8m.