Agenda: Updates from Topps Tiles and the BRC-Nielsen Shop Price Index

Topps Tiles

The DIY specialist will report its first-half results on Wednesday, April 4. Topps Tiles’ profits and sales dropped in its full-year results. Pre-tax profits dropped 15% while like-for-like sales were down 2.9%.

However, boss Matthew Williams hailed “good progress” on its strategy of “out-specialising the specialists” and said trading had improved during the first eight weeks of its current financial year, when like-for-likes grew 3.2%.

Investors will be keen to see if that momentum has been sustained through the half, and what effect the big ticket slowdown has had on the retailer.

BRC Shop Price Index

The British Retail Consortium will report its Shop Price Index for March in conjunction with Nielsen on Wednesday, April 4. Deflation deepened to 0.8% in February from 0.5% in January as non-food shop prices continue to drive a deflationary period that has lasted 58 months.

Non-food prices decreased at a rate of 2.2% in February as they hit the deepest deflationary period since April 2017, according to the BRC-Nielsen Shop Price Index. Food inflation eased to 1.6% in February compared to 1.9% in January, which was driven by a slowdown in fresh food.