Overview
- Topps issued a profit warning on Wednesday that cut its expected underlying profit for the year to just above £6.5m, down from last year’s £9.2m.
- The group reported sales fell 1.8% in the three months to 27 June and said like‑for‑like revenues weakened through the quarter.
- Topps says the extreme late‑June heatwave forced tradespeople to pause outdoor work, which further depressed installations and sales in the short term.
- The company has been cutting costs and closed 23 shops in April, and its shares fell about 8% after the warning was published.
- Topps expanded by buying distressed rivals including CTD and the Fired Earth brand but faces CMA‑ordered disposals and short‑term integration challenges that add pressure to recovery.