Trading tough over past eight weeks
Topps Tiles has released an optimistic trading update this morning, on an otherwise glum day for the retail sector.
Although company trading has deteriorated in recent weeks, the tile and flooring specialist expects to announce a pre-tax profit in the region of£39.3 million this November.
Topps Tiles appears to be surviving the retail downturn, achieving a like-for-like sales growth in the region of 3.5 per cent for the 52 weeks ending October 1. However, trading over the past eight weeks is down 4 per cent like-for-like.
Analyst Seymour Pierce said Topps is an 'excellent niche company that dominates its market'.
The company will announce its results for the 52 weeks ending October 1 on November 29.
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