Topps Tiles sees like-for-like sales fall by 4.7% in its third quarter. The company said last year’s changes to Stamp Duty and its impact on the housing market had resulted in less favourable macro-economic conditions.

Topps Tiles is now has 367 stores compared to 348 in the previous year.

Commenting on the results,Topps Tiles chief executive, Matthew Williams said: "At the time of our interim results in May we pointed to a more challenging macro-economic environment and this has persisted through the remainder of the third quarter. Tougher comparatives resulting from the changes to Stamp Duty in the prior year were a feature throughout the period and we have seen a modest improvement in trading over recent weeks as they have begun to ease.”