Shares in Carpetright, the U.K.’s biggest seller of floor coverings, surged after the company’s new chief executive officer outlined the findings of a three-month strategy review.
The review, Wilf Walsh said, showed the company to be “fundamentally sound” albeit it in need of “updating and repositioning.”
The retailer has closed over a dozen stores in the last six months, as it seeks to reduce duplication. Mr. Walsh said opening smaller stores would take priority.
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