The UK’s biggest tile and flooring firm Topps Tiles today reported slowing sales and warned of the potential impact of financial market turmoil on consumers.
The firm, which has a store at Leeds Road in Huddersfield, said like-for-like sales slowed to 1.1% in the seven weeks since the end of September – compared to 4.7% growth in the previous 12 months.
“While we believe the prospects for the future growth of Topps Tiles remain broadly positive, we must not underestimate the potential impact that this year’s turmoil in financial markets will ultimately have on consumers.”
Pre-tax profits for the year to September 29 fell by 3% to £37.8m as the group paid higher interest charges.
