"Topps Tiles is implementing a targeted programme of self-help measures weighted towards the second half, designed to support year-on-year profit growth and provide a stronger financial platform for 2027 and beyond."
"The company confirmed that the affected outlets are underperforming locations, with eight already shuttered since last September, and the remaining stores will close over the next six months."
"Despite the slowdown, the firm insists it is still outperforming the wider DIY and home improvement market, which has been hit by weaker consumer demand."
Topps Tiles is closing 23 stores, representing 7% of its total locations, due to a struggling home improvement market and rising costs. The closures include eight stores already shut since last September, with the remaining to close in the next six months. The company reported a slight sales decline of 0.1% to £142.7 million, but a 2.1% increase when excluding its recent acquisition of CTD. Despite challenges, Topps claims to outperform the broader DIY market, which is facing reduced consumer demand.
Read at London Business News | Londonlovesbusiness.com
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