In a disappointing follow up to its end of year results in September 2012, which saw sales and profits soar, Topps has reportedly lost £1.3m in underlying profit before tax.
In a pre-close period trading update for the 25 weeks to March 30, 2013, total revenues were predicted at £87.4m, a 0.9% increase on last year. Like-for-likes, meanwhile are estimated to have decreased by 0.3%.

Underlying profit, meanwhile, is expected to drop from £5.6m last year to £4.3m. Topps said: "Against a background of weaker than expected demand, a number of cost reduction initiatives have been implemented and, when taken into account, management expect that full year adjusted profit before tax will be within the current range of market expectations."

Topps Tiles Plc currently trades from 320 stores and "continues to make significant investments across the business as part of the strategy to grow market share."

The group added that there have been "no significant or unexpected changes" in its financial position since its full financial report for the 52 weeks ended September 29, 2012.