Topps Tiles sees 4.2% fall in like-for-like sales
Topps Tiles has reported a 4.2% drop in like-for-like sales in the 13 weeks ending 1 January although performance has improved in the last six weeks of trading.
The tile and flooring retailer said it was encouraged by the most recent performance as it had previously reported a 6.9% like-for-like decline during the first seven weeks of the period.
Non-Executive Chairman Michael Jack said trading conditions had remained tough throughout the group’s first quarter.
Regarding the outlook Jack said: “The Board remains very conscious of the difficult outlook for the consumer in 2012 but we believe that our strategy of offering outstanding value for money combined with exceptional levels of service will continue to deliver the best results for both our customers and our shareholders.”
Topps Tiles currently trades from a total of 320 stores and is planning to open approximately five new stores in its current financial year.
