- Topps Tiles said its sales had slipped in the first quarter amid a 'challenging market backdrop'.

Like-for-like sales for the 13 weeks through 29 December fell by 1.4%, the company said.

'Against a challenging market backdrop and a strong period of performance in the prior year we believe the business has performed robustly over the first quarter,' chief executive Matthew Williams said.

'We remain excited by both the opportunity for profitable growth that our expansion into commercial segment will bring and the continued opportunity to further strengthen our market leading position overall.'

Topps Tiles said it continued to make 'good progress' with its plans for commercial. For example, it had recruited an experienced salesforce and was evaluating opportunities to further strengthen the team.

'We are building an encouraging pipeline of future potential projects and are on track to open two new showrooms during the second quarter; bringing the total to four,' it said of the new commercial business.

At 8:26am: [LON:TPT] Topps Tiles PLC share price was -0.2p at 63.5p

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