Carpetright Stock Falls on 'Cautious' Outlook-stonecontact.com

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Carpetright Stock Falls on 'Cautious' Outlook
United Kingdom Sep 23,2008www.floordaily.net
London, England, Sept. 23, 2008--Carpetright Plc, the U.K.'s largest carpet retailer, had its shares slide as much as 7.1 percent in London trading after saying it remains ``cautious' on the outlook for the year because of deteriorating financial and housing markets. Business in October and November ``could materially affect the year-end result,' the company said today in a statement released ahead of a visit by analysts to its offices in southeast England. The carpet retailer said last month that this year would be ``one of the most difficult' it has ever faced. U.K. house prices fell for a fourth month in September as the global credit crisis intensified. Carpetright, which is 5 percent owned by Bill Gates' private investment fund, acquired Dutch floor-covering retailer Ben de Graaff Tapijit in June, in a push to increase European sales as the U.K. and Ireland continue to slow. The company has 550 stores, with 127 stores in the Netherlands, Belgium and Poland.

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