Carpetright has announced that its UK like-for-like sales decreased 2.9% in the 25 weeks to 22nd October, leaving its full year profit expectations unchanged.

Carpetright has however revised its full year guidance of a drop in gross profit percentage to between 150 and 200 basis points, driven by increased sourcing costs due to the devaluation of the sterling and competitive market conditions.

Chief executive at Carpetright, Wilf Walsh, said: "Trading conditions in the UK in the first half reflect variable consumer demand and increased competitive pressures. Against this background, our plan to revitalise the UK business remains on track and we are now almost halfway towards our target of 100 store refurbishments in the current financial year, with investment in the first half weighted to the latter part of the period.”

The company now has 49 stores operating under its new brand identity, opened one store and shut seven in the year to date, which now gives the company 429 trading locations. Meanwhile, the introduction of new hard flooring in 26 of its stores contributed a 15% rise in laminate and luxury vinyl tile sales.

Mr Walsh added: "As we enter the second half, we are looking forward to implementing the next phase of our refurbishment and rebranding programme as we continue our drive to update and revitalise the business. With the benefit of recent UK investment expected to flow through as the second half progresses, further significant refurbishment work already underway and a continued improvement in the Rest of Europe, our guidance for the year as a whole remains unchanged."