Topps Tiles Plc has reported a resilient first-half performance, despite subdued market conditions and ongoing cost pressures. For the 26 weeks to 28 March 2026, total Group revenue reached £142.7m, down 0.1% year-on-year, largely due to volume disruption linked to the prolonged CMA process affecting CTD.
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Excluding CTD, Group revenue rose by 2.1%, with second-quarter growth easing to 0.6% following a stronger first quarter. Like-for-like sales increased marginally by 0.1%, outperforming a wider Home Improvements and DIY market that declined by around 2.5%.
In response to weaker consumer sentiment and inflationary pressures, the company has initiated "self-help measures" aimed at improving efficiency and profitability. These include cost reductions across head office and retail operations, alongside plans to close 23 underperforming stores. While this is expected to reduce overall revenue, it should enhance profitability through cost savings and sales redistribution.
Online brands continue to perform strongly, with Pro Tiler achieving over 21% growth, while Fired Earth has returned to profit since its acquisition.
Chief executive Alex Jensen said the measures are intended to 'support year on year profit growth' and strengthen the business heading into 2027.
Source: www.bigfurnituregroup.com
