Published on 31 - March - 2010
Topps 'satisfied' with latest trading figuresTopps Tiles has reported, ahead of the period close, stronger sales than last year for the 27-weeks to April 3. However, the company still sees consumer confidence as 'unstable' and describes trading in the second quarter as "subdued".
UK revenue for the period is expected to be £91.5m, an increase of 4.5% compared with £87.6m in the same period last year.
However, when re-stated on a same reporting week basis, total revenue increase is actually only in the region of 0.4%. The company expects like-for-like revenues to show a respectable 2.1% increase, however, this is against a period last year that saw lfl sales drop by 18.5%.
Although the 23 weeks has seen three stores open, the store count stays the same at 309 as three stores have also closed.
Topps Tiles ceo Matt Williams said: "In our most recent statement we expressed our cautious approach towards the outlook for the economy during 2010. The results across the first half of the year demonstrate that levels of consumer confidence remain unstable and trading patterns during the second quarter have been subdued.
"We have a resilient business model and we are satisfied with the performance of the group to date."
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