Carpet retail giant United Carpets is closing its store in Bristol after a “challenging” year of trading.
The FTSE-100 business has seen profits fall to £590,000 - down from £1.52million the year before - despite turnover growing by 10.4 per cent to £23.9million.
The retailer says it is relocating the store but it is not yet known where.
The company’s like-for-like sales also decreased by 0.1 per cent - but grew by 4.6 per in the first 16 weeks of the new financial year.
The business has blamed its performance on a hot summer and England’s “successful run” in the World Cup.
It also said a “softer housing market” and ongoing political and economic uncertainties had reduced consumer confidence.
Paul Eyre, chief executive, said: "An unusually hot summer last year, combined with the football World Cup and a softer housing market, made this a challenging year.”
Mr Eyre said profit before tax was “within the reduced anticipated range” in March and reflected the “increasingly difficult retail environment”.
“The business remains well placed with a largely franchised store portfolio operating under a trusted brand, delivering good quality and great value products, and able to take advantage of any upturn in the broader market,” he added.
Despite the closure in Bristol, the retail group says it will continue to consider potential new locations and new franchisees.
United Carpets has 61 stores in the UK.
