StockMarketWire.com - Topps Tiles said like-for-like sales in its fiscal third quarter fell by 2.3%, reflecting a weaker consumer environment.

'Against this background, we believe that we continue to outperform the overall tile market and we are maintaining our focus on tight cost control and strong underlying cash generation,' the company said.

Topps Tiles said it was now trading from 375 stores, down from 367 on-year, having opened two and closed three stores during the period.

It said it also completed a refinancing of its loan facility, putting in place a new three-year committed facility with existing lenders on similar commercial terms.

The facility comprised a £35m revolving credit facility with a £15m accordion.





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