Topps Tiles sales still falling

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Topps Tiles sales still falling

Wed, 13 July 2011
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Topps Tiles sales still falling
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Price: 84.25

Chg: 0.25

Chg %: 0.30%

Date: 14:29

Tile and wood flooring specialist Topps Tiles continued to experience subdued trading in the 13 weeks to 2 July.

Revenues were down by 1.9% on a like-for-like basis (excluding the impact of new openings and closures) from the same period the previous year. Total revenues were down by 1.6%.

“We do not expect to see any material change to trading patterns over the final quarter of the financial year,” the company said.

“The business will continue to focus on achieving the efficiencies necessary to drive improved gross margins which will help to offset some of the impact of the challenging environment.”

Despite the subdued conditions, Topps is planning to increase the number of shops it runs to 320 by the year end from 313 currently.