Topps takes on weak backdrop

Topps Tiles has blamed weak consumer demand for knocking sales in the third quarter.

The retailer said in a trading update that like-for-like revenue fell 2.3 per cent in the 13 weeks to 1 July – its worst quarterly decline so far this year. It reported a 3.4 per cent rise in sales in the first three months of the year, though for tunes reversed in the second quarter when revenue dropped 2.2 per cent.