Topps Tiles has issued a profit warning after like-for-like sales plunged 10.4% in the first seven weeks of its fourth financial quarter.
Like-for-like revenue for the 13 weeks of Q3 had declined by 1.9%.

The group, which operates from more than 300 stores, has blamed a decline in consumer confidence for the fall in revenue and now believes full-year earnings will be below the current range of analysts' estimates.

A statement from Topps' management, released this morning, said it would continue to push forward with its strategy, which includes driving gross margin gains through increased direct sourcing, developing its offer and growing the store portfolio.

A focus on controlling costs and improving efficiencies will also be maintained.

A full trading update for the year to September 30, 2011, will be given on September 27.