Topps Tiles has posted a decline in its first-quarter like-for-like sales against strong comparative sales the previous year.
The specialist retailer recorded a 1.4% fall in like-for-like sales in the 13 weeks to December 29 against an uplift of 3.4% the previous year.
Topps Tiles said its Parkside commercial division continued to “make good progress” during the quarter. The retailer plans to open a further two showrooms for its commercial arm in the second quarter, taking its total number of showrooms to four.
The retailer, which posted a 25.3% fall in its preliminary pre-tax profits to £12.7m in November, closed two retail stores and opened one during its most recent financial quarter.
The retailer currently has 367 stores in total.
Chief executive Matthew Williams said: “Against a challenging market backdrop and a strong period of performance in the prior year we believe the business has performed robustly over the first quarter.
“We remain excited by both the opportunity for profitable growth that our expansion into the commercial segment will bring and the continued opportunity to further strengthen our market-leading position overall.”
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