Sparks - Topps Tiles

There are some signs of encouragement in Topps Tiles’ full year trading update, with revenue in line with our expectations – a decline of 5.7%.  In the Topps Tiles branded stores, sales trends were stable between Q3 and Q4 in absolute terms and its Online Pure Play business is described as robust. This gives a slight improvement in the underlying rate of decline in Q424 versus Q324, with the help of a slightly easier comparative. The company has performed very well against an even weaker market and management is confident of further market share gains whatever the market conditions. Into the new financial year, the company is lapping against easy comparatives and the macroeconomic indicators are pointing in the right direction.

Topps Tiles has also announced that it is working with the Competition and Markets Authority, which intends to review the company’s acquisition of certain assets of CTD Tiles under merger control, after receiving an initial information request.