Election hits Topps
Topps Tiles has said that sales have fallen since the general election was called.
It says, as has happened before, consumer demand has weakened since Boris Johnson went to the country. Retail sales in the eight weeks to 23 November dropped by 7.2%. This compares with a 1.9% drop a year ago.
‘At the start of the new financial year, trading conditions have become more challenging, with consumer demand weakening further since the general election was called in late October. Against this backdrop of heightened political and economic uncertainty, like-for-like sales in the first eight weeks have declined. Whilst we expect external events will continue to weigh on consumer confidence for the immediate future, we remain confident that our market-leading retail offer and growing commercial operations give us a strong platform from which to deliver sustainable growth over the medium and long term,’ says Matthew Williams, Topps ceo.