British retailer Topps Tiles LSE:TPT on Wednesday warned its annual profit could drop by 29% after quarterly like-for-like sales were hurt by customers trading down to cheaper products and heatwave-induced temporary work stoppages among builders.
The company said it expects adjusted pretax profit for fiscal 2026 ending September to be above £6.5 million ($8.60 million), compared with £9.2 million last year.
Analysts, on average, were estimating about £9.2 million in annual pretax profit, according to an LSEG poll of four analysts.
"The macro-economic environment has continued to be challenging, with lower consumer spend and commercial areas such as housebuilding coming under further pressure," the company said in a statement.
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