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Topps sees post-election recovery

ToppsBistroTopps Tiles has seen a recovery in sales in recent weeks, demonstrating the impact the general election had.

Like for like sales dropped by 5.4% in the quarter to 28 December. However in this period, like for like sales were down by 1.4% in the final five weeks of the quarter.

‘Our first-quarter performance reflects the full impact of the heightened political and economic uncertainty evident in the run up to December’s general election, which we first noted in our 2019 full-year results announcement,’ says Rob Parker, Topps Tiles chief executive.

‘Trading conditions remained challenging throughout the period and, against this backdrop, we ensured that we continued to offer our customers excellent value for money. As expected, the retail like-for-like sales decline began to return to its pre-election trend towards the end of the quarter.’