Topps Tiles continues recovery

topps tiles

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 ...

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Andrew Hore is the publisher of AIM Journal, which is an online monthly publication covering the Alternative Investment Market.