Topps Tiles (TPT) Q3 2026 TU earnings summary

Executive summary

• Q3 FY26 group revenue was £75.6 million, down 1.8% year-over-year, impacted by challenging market conditions and prior store closures.

• Excluding CTD, group revenue rose 0.6% year-over-year to £69.4 million.

• Like-for-like revenue was flat year-over-year, with a weaker second half of the quarter.

• Outperformed the wider market, which declined 1.6% in the quarter.

Financial highlights

• Adjusted Profit Before Tax for FY26 is now expected to be above £6.5 million.

• Online revenue (including CTD) increased to 23.3% of total in Q3 FY26, up 2.3ppts from H1 and 3.7ppts year-over-year.

• New "hard surface" category grew 10.9% year-over-year, driven by acoustic panels, outdoor tiles, and shower panels.

Outlook and guidance

• Major self-help initiatives on track, including network optimisation, flexible labour model, and head office role consolidation.

• Board remains confident in delivering medium-term ambitions despite near-term headwinds.