Topps Tiles has reported a 6.2% fall in sales for the third quarter after citing “challenging” market conditions.

The retailer suggested that the UK tile market is down by 10-15% year-on-year, with the group continuing to take market share.

Like-for-like sales were 9.7% lower year-on-year in Q3, similar to the 9.2% decline seen in the first half, however sales levels in Topps Tiles did stabilise through the quarter ending 29 June. Sales to trade customers continued to be “more resilient” than sales to homeowners, the group revealed.

“Market conditions have remained challenging overall, with subdued demand in the domestic repair, maintenance and improvement (RMI) sector, especially for bigger ticket projects,” Topps Tiles said in a statement to the London Stock Exchange.

The group indicated it was remaining upbeat after suggesting positive macroeconomic data on inflation, real wage growth, improving consumer confidence and increased activity in the housing market is providing confidence in a cyclical recovery.

“The group is well-positioned to benefit from this due to its growing market share, leading brands, specialist expertise and world-class service, underpinned by its strong balance sheet,” it added.

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