Tuesday, October 17, 2017

Topps Tiles posts record sales despite post-Brexit slump

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Topps Tiles achieved record sales in its full-year report but remains uncertain on how the post-Brexit vote downturn in consumer confidence could affect the business in the future.

Sales at the home improvements retailer rose 1.3 per cent to a record £215 million in the 52 weeks to October 1, while like-for-like store sales climbed 4.2 per cent over the period. 

Topps Tiles said it was not yet clear how the widespread downturn in consumer confidence, which came about as a result of the EU referendum, would impact the business in the future.

However, chief executive Matthew Williams said they were “well placed” for growth, with like-for-like sales experiencing a small 0.8 per cent uptick in the first eight weeks of the current financial year.

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