Major British DIY retailer hit by “weak” demand
By Andrew Merrell | 4th July 2018
One of the nation's best-known DIY retail chains has blamed a "weaker consumer environment" for a dip in sales.
FTSE 250-listed 300-store-strong Topps Tiles was reported a fall in its third quarter trading figures of 2.3 per cent.
The business has stores in Gloucestershire in Gloucester, Cheltenham, Cirencester, Moreton-in-Marsh.
It comes as something of a surprise given that the chain, which has stores across Gloucestershire, started the year by reporting 3.4 per cent rise in sales for the first quarter of 2018.
What it does mean is these latest figures mark the retailers worst period so far, although it is stronger than the third quarter decline it reported last year (4.7 per cent).
Topps Tiles described them as "reflective of a weaker consumer environment".
It added that it believed it remained the market leader in its sector and confident it would remain so.
Over the last three months it has closed three stores and opened two bringing its total stores to 375 - more than the 367 it had in business at this time last year.
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