StockMarketWire.com - Flooring retailer Topps Tiles said its average weekly sales had slumped 53% in the third quarter of its financial year, though the performance was nevertheless better than it had expected.

Average weekly sales for the 13-week period ended 27 June had dropped to £1.9m, down from £4.1m on-year.

Sales plummeted 80% in April, but by lesser amounts of 69% in May and 20% in June.

'Retail trading over the third quarter improved significantly as stores re-opened, with average sales per week growing from £0.8m during April to £3.9m in the final week of June when all stores were trading, which was 5.4% below the same week in the prior year on a like for like basis,' the company said.

'The board is pleased by this performance, which was ahead of its revised expectations following the outbreak of Covid-19.'


At 8:16am: [LON:TPT] Topps Tiles PLC share price was +2p at 46.4p



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