When Wilf Walsh was appointed chief executive of Carpetright a few eyebrows were raised but things are looking up under his watch.
When Wilf Walsh was appointed chief executive of Carpetright a few eyebrows were raised.
Walsh, with a background in music retail then the betting industry, didn’t look like the obvious successor to carpets king Lord Harris.
But on the evidence of Monday’s interims, Walsh has made a good start. Less Inspiral Carpets, more a magic retail carpet ride as profits moved ahead impressively.
Having conducted a strategic review, Walsh aims to extend Carpetright’s appeal while not eroding traditional strengths such as a reputation for value.
Perhaps ironically, as food shoppers pile into Aldi and Lidl’s stores, Walsh believes potential new customers see Carpetright as too value-focused.
A bit like Aldi and Lidl however, he hopes to offer value for money while managing to draw in aspirational shoppers.
The building blocks of his strategy encompass retail basics such as keen management of Carpetright’s property portfolio, improving the multichannel offer and better service standards.
But the changes have only just begun. Investors may want to wait for more sustained signs of improvement before once more giving the retailer the red carpet treatment.
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