The fortunes of Topps Tiles (TPT) and the housing market are inextricably linked – people often renovate their homes before attempting to sell or after moving in. The UK’s leading tiling retailer could therefore benefit from government efforts to kickstart the housing market, namely the temporary cut in stamp duty. That helping hand could add to an improving post-lockdown trajectory – with all stores back up and running in the last week of June, the recovery in sales has been better than expected.
Strong recovery since store reopenings
Potential stamp duty holiday boost
Weaker economic times ahead
Traditional reliance on physical stores