Builders' Merchants News

Topps Tiles sales down

Published:  08 April, 2010

LEICESTER: Shares in Topps Tiles fell 4.9% as HSBC brokers downgraded its rating on the tile and flooring retailer to "neutral" from "overweight" and following the firm's recent trading update.

Last Wednesday, Topps Tiles posted a second-quarter fall in underlying sales, blaming a dip in confidence as the general election nears and consumers brace themselves for tax rises and job cuts.