Topps Tiles sales down
Published: 30 March, 2012
CHEADLE HULME: Tile and wood flooring specialist Topps Tiles said total first-half sales will be about 2.5% down on last year amid the continuing consumer spending squeeze and a sluggish housing market.
Topps said revenues for the 26 weeks to the end of March will be about £86.9m, down from £89.2m last year. The firm said its performance was broadly in line with management expectations.
Like-for-like sales are down by around 4.5%, reflecting tougher comparatives with revenues in the same period a year ago were up 1.8%. Topps trades from 319 stores but said it expected to end its financial year with 325 sites.