Topps Tiles Q4 sales slide due to “political uncertainty”

358
Topps Tiles CEO Matthew Williams trading update
Topps Tiles attributed its fourth-quarter sales decline to economic uncertainty and consumer uncertainty
// Topps Tiles Q4 sales down 1.9% in the 52 week period ending September 28 2019
// Like-for-like revenues in the 52 weeks were ahead by 0.6% when compared to the prior year

Topps Tiles has reported lower fourth-quarter like-for-like sales thanks to an uncertain economy dampening consumer demand.

For the full-year period ending September 28, adjusted revenues are expected to be in the region of £214 million, while like-for-like revenues in the 52 weeks were ahead by 0.6 per cent when compared to the prior year.

Strong like-for-like sales growth in the retailer’s third quarter of 3.8 per cent was offset by a 1.9 per cent decline in the fourth quarter.


READ MORE: Topps Tiles Q3 sales increase as Strata Tiles takeover bears fruit


Topps Tiles attributed its fourth-quarter sales decline to economic uncertainty and consumer uncertainty.

“Despite continued tough market conditions it has been a year of significant strategic progress for the Topps group,” Topps Tiles chief executive Matthew Williams said.

“Our sales growth across the group for the year as a whole compares favourably with the overall tile market.

“However, political uncertainty continued to weigh on consumer confidence in the final quarter and we expect this to remain a feature until there is greater clarity.

“Longer term, we are confident that our growth strategy will continue to deliver market outperformance.”

Click here to sign up to Retail Gazette’s free daily email newsletter