Partly Cloudy

Partly Cloudy

max temp: 17°C

min temp: 12°C

ESTD 1874 Search

Retail: United Carpets and Floors2go agree to change pricing practices amid OFT investigation

10:15 23 January 2014

United Carpets and Floors2go have  agreed to overhaul their pricing practices.

United Carpets and Floors2go have agreed to overhaul their pricing practices.

Two carpet and flooring firms have overhauled their pricing practices in the wake of an investigation by the competition watchdog.

shares

The undertakings by United Carpets and Floors2go owner Nixon & Hope come as the Office of Fair Trading (OFT) continues to look into potentially misleading pricing by furniture and carpet retailers.

It said the Floors2go website was found to be advertising products at an initial square metre price which excluded VAT, while it also found that some claimed savings were incorrect. The company has since amended its website to ensure any savings are accurate.

United Carpets, which has 67 franchised stores, will ensure that its advertised recommended retail prices are genuine and that it will not use time-sensitive promotions such as “closing-down sale” without an explanation of the circumstances of the promotion.

OFT director Gaucho Rasmussen said: “Shoppers rely upon clear, honest and upfront advertising of prices.

“When retailers advertise misleading prices or promotions, consumers often make different purchases or spend more money than they otherwise might have done.

“We therefore welcome the changes that United Carpets and Nixon & Hope have made, and agreed to make, to their pricing and marketing strategies.

“When buying big ticket items, consumers should always shop around and check that the price they are paying represents value for money.”

The OFT is continuing its investigation into the sector but United Carpets said it was no longer a part of it.

United’s chief executive, Paul Eyre, said the OFT was now happy with the company’s pricing and marketing strategies after it worked with the watchdog to eliminate any “unnecessary issues”.

He added: “The OFT voiced a concern over the use of recommended retail prices and whilst these have been provided to us by independent third parties we decided to phase out their use over a period of time and that exercise was completed by the end of 2013.

“The OFT also suggested that should it be necessary to hold a store closing sale then a small amount of additional information could be displayed. On the odd occasion where this might arise in the future we are more than happy to do that.”

shares

0 comments

State-backed Lloyds Bank reported a better-than-expected 21% rise in underlying profits to £2.18 billion for the first quarter.

State-backed Lloyds Banking Group has reported a better-than-expected 21% rise in underlying profits to £2.18 billion for the first quarter as it said it benefited from the improving economy.

Challs MD Graham Burchell

A drain cleaning products company celebrating its 25th anniversary is marking the milestone with new branding.

Isaacs on the Quay

The manager of a popular waterfront bar has moved to allay fears a new licensing application could mean an increase in late night noise.

Penny Teale is to convert part of her Orford General Store into two new flats.

A village shop owner has explained the reasons why she has had to downsize her store and will convert the rest of the building into apartments.

A decision by the European Court of Justice (ECJ) means that 3,200 ex-employees of Woolworths and 1,200 former staff at Ethel Austin will not receive any money.

Thousands of workers at high street stores which went out of business have lost a long battle for compensation.

Post-Christmas boost for BA’s owner

Thursday, April 30, 2015
The owner of British Airways has forecast a big jump in profits this year as it benefits from the

The owner of British Airways has posted a profit in the post-Christmas quarter for the first time since it acquired Spanish carrier Iberia in 2011.

Shell profits slump after oil slide

Thursday, April 30, 2015
Shell has been hit by the fall in oil prices.

Royal Dutch Shell has reported a 57% slump in first quarter profits after it was hit by the fall in oil and gas prices.

Solar farm. Library image.

Plans for a third solar farm in Wix have been given the green light by councillors.

Richard Turner said £70million in wages would be spent in Stowmarket if the business park was given the go-ahead.

Outline planning permission for a 29 hectare business site has been approved by Mid Suffolk District Council.

Royal Bank of Scotland  slumped to a loss of £446million in the first quarter.

State-backed Royal Bank of Scotland slumped to a loss of £446million in the first quarter, it revealed today.

Most read

Most commented

Topic pages