Low Consumer Confidence Hurting Topps' Sales

London, England, June 1, 2011 -- Subdued consumer confidence is hurting sales at Topps Tiles, the tile and wood flooring specialist revealed on Wednesday, according to a Financial Times story.

Like-for-like sales fell by 2.1% in the first seven weeks of Topps’ second half.

“The economic environment remains challenging for retailers and as a result we anticipate consumer confidence will continue to be subdued,” Topps said on Wednesday.

“Whilst we recognise that consumers are likely to continue to face pressure on spending levels, we are encouraged by the trading patterns we have seen over the first six months of this financial year.”