British flooring retailer hit by extreme weather

LLB Reporter

Records slump in second-quarter sales

British flooring retailer Topps Tiles has reported a slump in second-quarter sales amid extreme weather in the two months through March.

The tile supplier, which targets the domestic refurbishment market in Britain, also reported a 0.6 per cent increase in comparable sales for the 26 weeks to March 31. T

The group said like-for-like sales in the period dropped 2.2 per cent, a sharp reversal from the first quarter when comparable sales grew 3.4 per cent.

“We are retaining a cautious view of market conditions for the remainder of the year,” Topps Tiles Chief Executive Matthew Williams said in a statement.

The group has opened five and closed three stores during the first half.

 

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