Topps Tiles Closes 15 Stores, Shifts Workers

0:00Top's tiles, that tile retailer out of Lestershire, just drop news they're shutting down 15 more stores. That's about 7% of their 319 locations on top of 8 already closed since last September. The rest will go over the next 6 months as they tackle tough trading, rising cost, and shaky consumer bives. These moves are part of bigger self-help steps, including cuts at their head office to boost profits down the line. They haven't named which shops are hitting the chopping block, so folks near thermostone or market harboro are left wondering about their local spots. With around 1,850 employees, the company plans to shift affected workers to other roles where they can. Shares dip 3% on the announcement, even though they're outperforming the wider DIY sector amid all this. Sales for the 6 months ending March 28, slip 0.1% to 142,700,000 pounds. Strip out their recent CTD buy, and it actually grew 2.1%, though it slowed to 0.6% in the latest quarter.

1:05They're eyeing stronger profits into 2027, with half-year results coming May 19th. It's a gritty push to steady the ship in rocky waters. That's your update from Lester News Today, powered by AI. I'm Corey with The Story.