Topps Tiles report falling sales

Tile and wood flooring chain Topps Tiles today said it was cutting costs after a fall in homeowners looking to decorate their houses.

The Enderby-based group said like-for-like sales have declined by 2.6 per cent in the eight weeks to May 25.

It also reported a 16 per cent drop in pre-tax profits, before one-off costs and gains, to £4.7 million in the six months to March 30.

Total revenue rose slightly to £87.4 million over the same period.

In response to weaker demand the company launched a cost-cutting programme in March.

Matthew Williams
Matthew Williams

Chief executive Matthew Williams said the programme was going well and repeated previous assurances it would not lead to job cuts.

Mr Williams said the cuts included a reduction in the hours staff worked at stores.

The group employs about 1,300 staff at 320 stores across the country, including 15 people at branches in Leicester, Market Harborough and Grove Park, Enderby.

The company employs 300 at its head office, also in Grove Park.

Item sourced from: Leicester Mercury

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.