Topps Tiles Q1 sales drop 5.4% due to “political uncertainty”

Topps Tiles Rob Parker trading update
"Challenging trading conditions" also affected the group's sales
// Topps Tiles sales in the 13 weeks to December 28 dropped due to uncertainty
// Like-for-like sales fell 5.4%

Topps Tiles’ first quarter sales have dropped thanks to political and economic uncertainty adversely affecting consumer confidence.

In the 13 weeks to December 28, the tile retailer’s like-for-like sales fell by 5.4 per cent.

However, the group saw a market improvement after the general election, with sales declines paring back to 1.4 per cent in the final five weeks of its first quarter.

READ MORE: Topps Tiles full year profit slips in wake of “tough market conditions”

“Our first-quarter performance reflects the full impact of the heightened political and economic uncertainty evident in the run up to December’s general election, which we first noted in our 2019 full-year results announcement,” Topps Tiles chief executive Rob Parker said.

“Trading conditions remained challenging throughout the period and, against this backdrop, we ensured that we continued to offer our customers excellent value for money.

“As expected, the retail like-for-like sales decline began to return to its pre-election trend towards the end of the quarter.”

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