Carpetright hit by fresh downgrade

Carpetright has issued its second profits warning of the year in a further blow for the floor coverings firm as it battles weak consumer confidence.

The retailer’s shares dived 7% following the warning that profits for the year to the end of this month were likely to be no better than the level achieved in the 2008/09 financial year, when it made a surplus of £17m (€19.4m).