Essential reading for retailers and suppliers in the home improvement market

Topps Tiles releases interim management statement

Published: 1 August 2008
Trading conditions 'remain challenging' with decline in revenue.
Topps Tiles releases interim management statement
Tile and wood flooring specialist Topps Tiles has described trading conditions in the first 17 weeks of its new financial period as challenging. Overall revenue has seen a 2.7% decline and like-for-like revenue has dropped by 7.7%.

The UK showed overall revenue decline of 2.9% with like-for-like revenue decline of 7.9%, compared to an increase of 7.7% last year.

Trading in Holland, where the company has 21 stores, showed overall revenue decline of 0.7% compared to 2007 when figures were up 13.9%. Like-for-like revenue also saw a decline of 2.9%.

Topps Tiles operates from 320 stores across the UK. 22 new stores have been opened this financial year and three closed or relocated. The company states that it remains on track to open a net 20 new stores this year.

Chief executive of operations, Matt Williams said: "As we said at our half year results, the retail environment remains challenging. We are, however, managing the business prudently, with emphasis on costs and cash.

We have a resilient business model and are confident that we can grow market share in the current tough economic climate."

Comments


(Your email address will not be published)
6 + 1 =  
Already Registered?
Sign In
Not Yet Registered?
Register
Printable View E-mail Bookmark
*

Latest reader comments

re: Latest update on Green Homes Grant and implications for homeowners and landlords

John Hart
After applying for a green homes how long will it take for a decision? thanks...

re: SX Rainproof Exterior Caulk

Wally
I need the exterior sx rain resistant caulk! Can't get it anywhere so please help! How can I order it? Need it yesterday...

re: BCT can replicate any material in a ceramic tile

Christina Tiritanou
Not sure if you can help as I require a tile which has the measurements of 6”x 6”? Thank you....

re: Latest update on Green Homes Grant and implications for homeowners and landlords

colin thompson
SarahVery clear and helpful information.Thanks...

Most read stories