, Topps Tiles has reported annual sales of £248 million, a decline of 5.7% on last year’s record but broadly in line with the 2022 financial year. Sales in the fourth quarter were 4.
4% lower, or 8.2% on a like-for-like basis as trends improved towards the end of the year due to weaker comparatives. The FTSE All-Share company described conditions across the year as “very challenging”, particularly for bigger ticket projects.
It believes the wider market declined by 10-15% year-on-year. While economic indicators point to a stronger market in 2025, chief executive Rob Parker said the timing and trajectory of the recovery is hard to predict. , Household electricals firm AO World is to buy musicMagpie after the two companies agreed a takeover deal worth almost £10 million today.
AIM-listed musicMagpie, which sells pre-owned mobile phones, tech, CDs, DVDs, games, books and clothes, will boost AO’s consumer tech offering. Founder and chief executive John Roberts said: “A top-tier trade-in service will be essential, and musicMagpie represents a significant enabler in unlocking value through our reverse supply chain.” Founded in 2007, musicMagpie has operations in Macclesfield and Greater Manchester and in the US in Atlanta, Georgia.
AO’s offer price of 9.07p a compares with last night’s level of 5.75p and 25p at the end of last year.
, Transatlantic retailer JD Sports Fashion today reported record half-year results after revenues hit £5 billion and adjusted profits.