Carpetright execs open wallets and back company

Two Carpetright executives have upped their stake in the company to show their confidence in the business following a mixed third quarter.

Chief executive Wilf Walsh backed the company to the tune of £100,000, while group finance director Neil Page purchased £25,000 worth of shares through his wife.

It was Walsh’s first purchase of shares in the company, and Page now holds a total of 22,282 shares.

It comes after the company revealed on Tuesday that like-for-like sales in the 12 weeks to 23 January rose 2.4%, versus the exceptionally strong rise of 7.5% the year before, though festive LFL sales in the last four weeks rose by a better 6%.

Total domestic sales decreased by 1.3% in the period due to the store estate rationalisation.

For the full year, guidance for the decline in gross profit percentage was lowered to 100-150 basis points from the previous 50-100bps.

Management also revealed sales have slowed in recent weeks.

Top Director Buys

City Merchants High Yield Trust (CMHY)
Director name: Mrs Winifred Robbins
Amount purchased: 85,958 @ 174.50p
Value: £149,997

Carpetright (CPR)
Director name: Mr Wilf Walsh
Amount purchased: 25,000 @ 400.00p
Value: £100,000

Carpetright (CPR)
Director name: Mr Neil Page
Amount purchased: 6,250 @ 400.00p
Value: £25,000

Barr (A.G.) (BAG)
Director name: Mr Roger Alexander White
Amount purchased: 4,113 @ 254.00p
Value: £10,447

There were no director sells at the time of publication