Topps Tiles on track despite sales slip

5th Aug 2009 07:23

Tiles and wood flooring retailer Topps Tiles remains on track to meet full year expectations following a small improvement in like for like sales.The firm, which has 312 stores in the UK and 13 in Holland, said group revenue fell 9.9% in the 18 weeks ended 1 August and like for like sales by 10.9%. A year ago they fell 3% and 8% respectively.Figures for the first seven weeks of the new financial year had shown a 9.6% drop in revenue and 11.9% slip on a like for like basis. In May, the company said pre-tax profits tumbled from £15.8m to just £0.6m as overall revenue sank 13.4% to £92.1m. Like-for-like revenues fell by 18.5%.