Tile specialist Topps Tiles Plc has announced a slight reduction in third quarter sales but continues to make “strategic progress”.
According to its latest trading update for the 39-week period ended 27 June 2026, group revenue for was £75.6m, 1.8% lower against the last year, driven by challenging market conditions as well as the effect of prior year store closures in CTD and the previously announced closure of underperforming stores in Topps Tiles.
Group revenue (excluding CTD) for Q3 FY26 was £69.4m, up 0.6% on last year. Topps Tiles Q3 FY26 like-for-like revenue was flat, worsening in the second half of the quarter compared to the first half.
“Whilst Topps continues to outperform the wider market, which declined approximately 1.6% in the quarter vs last year, performance was below our forecast,” the group said. “Since the interim update, we have seen some margin pressure as ongoing uncertainty in the macroeconomic environment has led to a current greater demand for lower priced products.
“In addition, recent periods of extreme heatwave conditions led to temporary work stoppages among housebuilders and traders, further affecting activity levels. Whilst there is likely to be a catch up over a six-month period, this is unlikely to come back fully in our financial year which ends in September.”
Topps added that it now expects Adjusted Profit Before Tax to be above £6.5m.
Commenting on the trading update, Alex Jensen, Chief Executive, said: “Topps continues to outperform the wider market despite weaker consumer sentiment and an increased focus on lower priced products.
“We’re making significant strategic progress across our priorities and the self-help actions we are taking to support profitability are working and will position the business for long-term sustainable growth. In the short term, the macro-economic environment continues to remain challenging.”
