Topps Tiles warns on profits as post-election benefits lag
The retailer said the improvement seen in the housing sector "traditionally" lag in home improvement trading
Company
Topps Tiles PLC
LON:TPT
Topps Tiles PLC is engaged in the retail and wholesale distribution of ceramic tiles, wood flooring and related products. The company operates in three retail operating divisions: Topps Tiles (Topps), Tile Clearing House (TCH) and Topps Floorstore (Holland). The wholly owned subsidiaries of the company are Topalpha Limited, which is engaged in property management and investment; Multi Tile Limited, which is engaged in retailing and wholesaling of ceramic tiles, wood flooring and related products; Topps Tiles Holdings, which is an intermediate holding company; Topps Tiles Distribution Limited, which is engaged in the wholesale and distribution of ceramic tiles, wood flooring and related products; Topps Tiles (UK) Limited, which is engaged in the retailing and wholesaling of ceramic tiles, wood flooring and related products, and Topps Tiles Holdings BV, which is engaged in retailing and wholesaling of ceramic tiles, wood flooring and related products. Topps Tiles is traded in the ISDX Exchange HERE
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Topps Tiles pars first quarter sales dip
Like-for-like sales for the 13 weeks to 28 December slid 5.4%, which was an improvement from the 7.2% drop recorded across October and November
Topps Tiles topples as election uncertainty dents sales in new financial year
The flooring specialist said that in the first eight weeks of its current year like-for-like revenues had declined by 7.2%, a sharper fall than last year when revenues dropped 1.8%
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Matt Williams will be replaced by the current chief financial officer, Rob Parker
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Topps Tiles’ first-half profits set to beat forecasts as trading picks up in second quarter
The later Easter this year and the absence of the ‘Beast from the East’ contributed to a rise in second-quarter like-for-likes, leaving Topps on track to beat profit forecasts, according to Peel Hunt
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FTSE 100 finishes higher as Brexit rumblings continue
Footsie gained around 27 points at 7,418, while FTSE 250 added 234 points at 19,563
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Topps Tiles reports revenue shrinkage in first quarter as UK retail sector drags
In an update for the 13 weeks to 29 December, the group reported that like-for-like revenues had fallen by 1.4% compared to 3.4% growth the same time last year
Archive
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The UK blue-chip benchmark added around 45 points at 6,906, while FTSE 250 surged even higher.