Topps Tiles has reported that consumer confidence remains shaky and trading patterns were lacklustre in its second quarter.
The specialist retailer said in a pre-close update that it expects first half UK sales to rise 4.5% to £91.5m. Like-for-like growth in the period, covering the 27 weeks to April 3, is likely to be 2.1%.
Although the like-for-like figure is far better than the 18.5% slide last year it is a slowdown from the 5.5% growth reported in the earlier part of this half.
Topps Tiles chief executive Matt Williams said: “The results across the first half of the year demonstrate that levels of consumer confidence remain unstable and trading patterns during the second quarter have been subdued.”
He said that Topps Tiles has a “resilient business model” that he was satisfied with performance and. “We will continue to manage the business prudently,” said Williams.