// 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.
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.”