Topps Tiles Still Sees Difficult Sales Conditions

London, England, June 2, 2010--British retailer Topps Tiles posted a 10% fall in first-half adjusted pretax profit.

The company, which sells wood and tile flooring from 309 stores in Britain, said total revenue for the first seven weeks of the current period fell 5%.

"The economic environment remains challenging for retailers, with consumer confidence and discretionary spending continuing to show signs of weakness," chief executive Matthew Williams said in a statement.

For the 27 weeks ended April 3, the company said its pretax profit before exceptional items fell to $11.4 million from $12.7 million last year.

Revenue rose 4.3%.