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Topps Tiles sales slow down in first quarter

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Topps Tiles recorded a slowdown in sales in its first quarter, with the retailer attributing it to "softer trading conditions".

In the 13 weeks to December 31, the home improvement chain’s like-for-like sales went up by 0.3 per cent, compared to the 1.4 per cent increase recorded in the previous three months.

The first quarter figures were inflated due to the timing of the bank holidays and an extra day of trading thrown in the last quarter, according to Topps Tiles.

The retailer expected this to be reversed in the next quarter.


READ MORE: Topps Tiles admits error in recent trading update


“We experienced softer trading conditions during the first quarter but we remain confident that we have continued to outperform the overall tile market,” chief executive Matthew Williams said.

“Against this background, our proven strategy, well-invested business and market leading position, leave Topps well-placed for further market share gains in the year ahead.”

Topps Tiles opened five new stores during the first quarter to bring its total to 356 stores, including 15 boutique stores.

The retailer will release its half-yearly trading update in April.

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Published on Tuesday 10 January by Elias Jahshan

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