THE RETAIL BULLETIN - The home of retail news
HOME
Department Stores
Electricals
Entertainment
Fashion
Food & Drink
General Merchandise
Health & Beauty
Home & DIY
Interviews
Newsletter
Property
Shopping Centres & Retail Parks
Sports & Leisure
The Papers
RETAIL INSIGHTS
RETAIL SOLUTIONS
• The HR Summit 2019
• AI in Retail Conference 2019
• Omnichannel Futures Conference 2020
• Future of Customer Engagement 2020
ABOUT
CONTACT
SUBSCRIBE FOR FREE
Topps Tiles experiences tougher market conditions in second quarter

Tile retailer Topps Tiles saw its like-for-like sales edge down 1.9% in the first half of its financial year as it experienced softer market conditions in… View Article

HOME & DIY

Topps Tiles experiences tougher market conditions in second quarter

Tile retailer Topps Tiles saw its like-for-like sales edge down 1.9% in the first half of its financial year as it experienced softer market conditions in its second quarter.

Total revenues in the 26 weeks to 1 April were £106.5 million compared to £108 million a year earlier.

The company said trading in its second quarter reflected softer market conditions with like-for-like sales down 4.1%. The lower sales growth in the first half will primarily be offset by reduced operating expenditure.

During the period, Topps Tiles opened 10 new stores in its core estate and closed three. The company is currently trading from 358 stores, including 15 boutique stores, compared to 340 stores in the same period in the previous year. Topps Tiles expects to open around 15 net new stores in the current financial year.

Matthew Williams, Topps Tiles chief executive, said: “Market conditions over the second quarter have been tougher, but the business has responded well with tight control of costs. While we are taking a prudent view on the outlook for the balance of 2017, an improving trend over the second quarter provides some encouragement.”

Topps Tiles expects full year underlying pre-tax profit to be within the current range of analyst forecasts of between £21 million and £22.3 million, with consensus at £21.8 million.

 

 

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

The HR Summit 2019
The HR Summit 2019
8 October 2019
Hallam Conference Centre, London W1W 6JJ
Company values, collaboration with employees and driving a major HR transformation to create a truly omnichannel experience, need to be at the heart of the organisation's culture and brand
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, London W1G 9DT
SENIOR-LEVEL FORUM FOR HEADS OF MARKETING, DIGITAL, ECOMMERCE AND CX
Omnichannel Futures Conference 2020
Omnichannel Futures Conference 2020
5 February 2020
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Future of Customer Engagement 2020
Future of Customer Engagement 2020
10 June 2020
Cavendish Conference Centre, London W1G 9DT
The 11th Annual Retail Customer Engagement Conference