Topps buys up a rival despite sales slowdown

TOPPS Tiles has revealed slower growth at the start of its financial year as it also snapped up the brand of collapsed rival Fired Earth.

- By STAFF REPORTER

Shares in the company dipped in early trading yesterday despite a return to profit.

The Enderby-based tile retailer revealed that group sales, excluding the CTD brand it bought last year, were up 3.3 per cent over the nine weeks since the end of September, with like-for-like sales of 2 per cent across Topps.

However, it marked a slowdown after Topps reported like-for-like growth of 5.3 per cent in the year to September 27, compared with a year earlier.

The group said recent sales “moderated due to weaker consumer confidence”.