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Sales continue to slide at Topps Tiles

Published: 2 July 2013
Revenues dropped 1.5% like-for-like during the 13 weeks to June 29, 2013 at Topps Tiles, following on from a 0.2% fall in the company's first half.
Sales continue to slide at Topps Tiles
The result from the tile retailer's third quarter was "in line with management's expectations" and the company added that it remained "comfortable with market expectations for the year as a whole" as it entered the final trading quarter.

Chief executive officer Matthew Williams said: "Trading in the period since our last update five weeks ago has been more encouraging, with like-for-like sales during June returning to year on year growth.

"Our performance for the third quarter as a whole has been as expected and our programme of self-help inititatives and cost reduction measures remains on track as we enter the final three months of the year."

Analysts' estimates for adjusted pre-tax profit for the year ending September 28 is £12.3m to £13.5m with a consensus of £12.6m.

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