Tiles retailer Topps Tiles (LON: TPT) is continuing its trading recovery. Although it is still expected to make a loss this year, it will be lower than previously expected. Higher spending on DIY is helping in the retailer’s recovery.
In the past six weeks, like-for-like retail sales were 15.5% higher and management believes that this rate of growth could continue. This suggests gains in market share.
This does follow a 53% decline in the third quarter, but it shows a significant recovery early in the fourth quarter. The commercial business is also improving.
There is net cash of £9m ...
