Carpetright says it has Brexit covered as it rolls out rebranding

Carpetright today shrugged off fears that Brexit turmoil could harm its business, assuring investors it was well placed to deal with the impact of the Leave vote.

The referendum result raised concerns of a slowdown in the housing market and that homeowners could put off home improvements.

But Carpetright boss Wilf Walsh said while it had “further complicated” the outlook in the UK, sales had risen since Thursday and the retailer could handle the situation.

“Whatever happens we are in pretty good shape. We are not carrying debt, we have a clear plan and we are relaunching our brand on July 1. We are extremely well placed to weather any kind of storms versus competitors.”

It could look at a range of options, including putting up prices and cutting costs, he added.

Carpetright revealed underlying profit before tax rose 33% to £17.3 million in the year ended in April and like-for-like sales grew 4.8%.

Its new year got off to a poor start with May proving “difficult”, though Walsh said there had been a recovery in June and Carpetright was on track to deliver its 11th consecutive quarter of like-for-like growth.

It is refurbishing stores, expanding its product range and improving customer service.