Topps Tiles is to close 23 underperforming stores as part of a series of measures to support profit growth over the medium term.

In a half‑year trading update, the retailer said the move would help to offset government and other cost increases, as well as weaker demand in the home improvements and DIY market.

The cost‑saving plan includes efficiency changes at head office alongside the store closures.

The company did not state which stores will shut.

Topps Tiles said it expects the move to reduce overall revenue but improve profitability through sales transference and cost reduction.

It added that savings are expected to be weighted towards the second half of the year and will support profit this year as well as deliver ongoing improvements.

“Topps continues to outperform a softer market,” said chief executive Alex Jensen. “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 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.”

In its trading update for the 26 weeks to 28 March, Topps said group revenue including CTD Tiles totalled £142.7 million, 0.1 per cent lower year on year. This was due to volume loss during a lengthy Competition and Markets Authority (CMA) process around the acquisition of CTD Tiles.

Group revenue excluding CTD Tiles rose by 2.1 per cent, while like‑for‑like revenue edged up 0.1 per cent in the period.

Topps Tiles said its online brands have continued to perform well, with Pro Tiler revenue increasing by more than 21 per cent compared to the same period the previous year.

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