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Topps Tiles trading "improving"

Published: 14 July 2010
Topps Tiles plc has reported that trading in its third quarter has improved in its trading update for the 13 weeks to July 3, 2010.
In the half year results announced on June 2 of this year, the company reported an overall group revenue decline of 5.1%, with like-for-like (lfl) revenue declining by 4.3%, for the first seven weeks of Q3.

However the latest statement, released today, said that trading during the remainder of the quarter has "demonstrated an improving trend". Overall revenue across the 13 weeks has now declined by 2.5%, compared to a drop of 8.9% for the same period in 2009. Lfl revenue fell by 1.2% for the period, compared with a decline of 10.9% last year.

The company is currently trading from 310 stores in the UK, having opened eight new stores and closed or relocated seven this financial year.

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