Topps Tiles will close 23 ‘under-performing’ stores out of its 311 UK branches (7.4%) due to a combination of challenges with its CTD acquisition and wider economic pressure. This strategic decision is expected to reduce Topps Tiles’ overall revenue but improve profitability through sales transference and cost reduction.
Eight of these stores have already closed, with the remainder to shut over the next six months. The Group has not confirmed which stores will close but has added it would offer affected staff jobs within the business where possible.
Topps Group’s latest trading update for the 26-week period ended 28th March 2026 records a revenue of £142.7m, which is 0.1% lower year-on-year, which the company puts down to the impact of volume loss from the lengthy CMA process in CTD. Group revenue (excluding CTD) grew year-on-year by 2.1%, although following a robust first quarter, revenue growth in the second quarter moderated slightly but remained positive at 0.6%.
Nevertheless, the company reports optimism that it is on track to return the CTD business to profit in the financial year, with housebuilder volume rebuilding from the end of financial year 2025 and CTD stores recording like-for-life growth of 1.0% in the first half – a statistic measured by CTD stores that have been trading for more than 52 weeks, compared to the same period the previous year.
The Group also confirms that its online brands have continued to perform strongly, with Pro Tiler delivering revenue growth of over 21% year on year and Fired Earth trading well since acquisition in December 2025, already delivering a positive profit in the first half of the financial year, with further growth expected in the second half.
Chief Executive Alex Jenson comments: ‘Topps continues to outperform a softer market. In light of subdued consumer sentiment and geopolitical uncertainty as well as the cumulative impact of cost inflation, the management team is implementing a targeted programme of self-help measures weighted towards the second half. These actions are designed to support year-on-year profit growth and provide a stronger financial platform for 2027 and beyond.’
