The trading statement announced a slowing of sales growth,margins are under pressure as B&Q and Carpetright have entered the market recently depriving them of their semi monopoly, it has a ridulously high price earnings ratio, the graphics are now very negative after its pre Christmas spurt, retail spending on discretionery items is gone negative (witness cars). The respected Investors Chronicle is very bearish on them.

Queen1, Not certain as my addled mind may be misreading the article in this weeks IC on shorting. But seems to suggest TPT for shorting on similar grounds to me for selling.

Good luck hope it goes as you expect.

Fred1new, if that is the case there seems to be an awful lot of confusion about TPT. Shares Mag is still a big supporter but then I think John Marshall who always does the write-up owns shares. Is it me or does he own shares in virtually every UK retailer?!

Possibly, just before he tips them. Only joking honest!!

Looking at the graph for the last year you can see that there has been a huge acceleration in price increase in the last 2 or 3 months. My last tranche bought in mid Nov is showing a profit to date of 26.6%. Its not suprising therefore if there is some minor correction (although the price is still well above any trend line connecting relative lows). The fundamentals of this very good firm still look good (imo). I still think there is more to come.

Cheers

B2B

Hope you can run an automatice stop loss. If so why not, but if it did drop below 235p I would cut and run. IMHO

brain2brain I'm still in your camp but, as ever, looking nervously over the fence into Fred1new's in case I'm missing something. Sticking at the moment until a better hand comes along or I'm forced to twist (sorry, enough of the blackjack already...)

You can't keep a good share down. This one is unlikely to show gains of 5 or 10% in a day but it does keep ticking over .3%, .7%, 1.2% etc. Happy to stay in tis one for sometime yet

B2B

Thinks it's hitting the top at the 270p mark, tempted to short the stock through a spread bet. I believe a lot of people are deluding themselves of any protection to a falling property market and associated items, (tile shops) it is already happening and the stories by estate agents etc are total tosh. oddly enough I wouldn't short builders (wouldn't buy them either but do hold some Persimmon). The competition from the likes of B&Q are hardly going to improve trading any more and further outlets cost a lot of money. - which are hopeless if they don't sell enough tiles to cover the cost. If I owned I would be taking profits. The shares recommendation could also be a signal to sell - not being rude but I remember the buy recommendations such as Pressac, Henlys and Mayflower etc.

imo /dyor

Agm statement looked like a veiled profit warning imho as profits unsustainable, market leading position referred may not be so for long with other competitors and the Board Director is stepping down to devote more time to other work, ie less time to Topps tiles. yet some people are still buying ??? I would be a seller.

Anyone know why there's been a 3% drop this morning?

No, queen1. I wondered. Probably just profit-taking but I am a bit nervous. 250,000 shares gone through this morning, which is not a huge number I think.

Maggot - I decided to cut and run. Made a 50% profit in 6 months which can't be sniffed at. Good luck if staying in.

down a bit today which takes the stock well below the trend lines, next support appears to be at the 180p level. With the current outlook on retail markets and the TA it would appear it has further to drop.

I know you should not get attached to a share so I sold most of mine at about 245. At present I guess with this trend that the rest may have to go.

It's not just profit taking, retail sales generally well down, property not changing hands and therefore middle england not laying new tiles. TA now shows the sp well below the support line of the rising trend and the next support stop is 180p - sell up in May ( or march) and come back on St Ledgers day, may hold true with a number of stocks this year, TPT being one of them.

love to all

Minx

Topps Tiles PLC
23 March 2005

Topps Tiles

Interim Pre Close Trading Update

Topps Tiles, the UK's biggest ceramic tile and wood flooring specialist is
pleased to announced that overall turnover for the 26 week period ended 2 April
2005 is expected to be in the region of 87 million, with like for like sales
for the same period expected to be an increase of 8%. However in the last four
weeks we have experienced very tough trading with like-for-like sales for these
four weeks alone running at between 2-3% below the same period last year.

Operational profit before tax is expected to be approximately 19.5 million. In
addition, there is an exceptional profit on property disposals of 1.5 million
to give a 26 week total profit before tax in the region of 21 million, an
approximate increase of 35% on last years 27 week comparative.

The Board expects to announce its interim results for the 26 week period to 2
April 2005 on Tuesday 24 May 2005.

Has this been oversold? certainly looking interesting again.

Watch out,there are some stocks that fall out of favour with the market and never fully restore to their former glory.This could be one of them...IMHO

Thanx Ethel. Opinion appreciated

azhar, I was thinking similar, closed my short at the 180 support line, see now it has dropped to the 162 and is hovering around there. Could be looking to recover a little. ??