Carpetright profit boost seen as blue sky for economy

PURFLEET-based Carpetright, funded by Lord Harris has seen trading rise by over 3% n the last three months.

The company is seen as a bellweather company whose fortunes indicate in which direction the economy is heading.

In 2012, profits for Carpetright fell to their lowest level since 1992 as the retailer battled a weak housing market and low consumer confidence.

The rise is often seen as a sign that people are buying carpets for new homes or are confident enough to buy replacements.

Darren Shapland, chief executive, told the Daily Telegraph that it is “too early” to call a recovery in the UK economy and that Carpetright’s sales have been driven by a series of “self-help” measures.