EnigmaticFox Posted 26 November 2008 Posted 26 November 2008 I've just read this article in the Guardian, about Topps Tiles. Are they about to pull out of city sponsorship? Topps Tiles axes dividend and adverts after 27% drop in profits Julia Finch, city editor guardian.co.uk, Wednesday November 26 2008 00.01 GMT The abrupt fall in the number of people moving house and the decline in consumer confidence have dealt a double blow to the ceramic tiles specialist Topps Tiles. The 320-store chain has seen like-for-like sales fall 18.3% in the past seven weeks. Yesterday's sales update came as the retailer announced a 27% fall in profits and axed its dividend payout. Its shares lost 2.5p to 18.5p - their lowest level in a decade. Eighteen months ago they were changing hands at 300p. "It is tough out there," said chief executive Matt Williams, "and it has got worse. Sales patterns coincide with bad news and this year it has been unrelenting. We saw a step down in business earlier this year when the housebuilders' problems emerged and another more recently when Lehman Brothers collapsed." Axing the dividend will save £18m, and the saving will be used to reduce the group's £92m debt. Last year the company paid out 10.7p a share. Williams predicted the dire trading conditions would continue next year and did not expect much impact from the cut in VAT in the pre-budget report, which takes effect on Monday. "It will give us a bit more to invest in price, but we will not adopt a blanket approach and change every price. That would be a logistical nightmare." He said the figures showed what a "resilient" business Topps is. About £6m has been cut from costs. The retailer has pulled all of its TV adverts but redundancies have been limited to a handful of positions at head office and it had no plans for more job cuts. Store staff, however, have had their hours reduced and some full-time staff have moved to part-time roles.
Sir Fynwy Posted 26 November 2008 Posted 26 November 2008 I've just read this article in the Guardian, about Topps Tiles. Are they about to pull out of city sponsorship?Topps Tiles axes dividend and adverts after 27% drop in profits Julia Finch, city editor guardian.co.uk, Wednesday November 26 2008 00.01 GMT The abrupt fall in the number of people moving house and the decline in consumer confidence have dealt a double blow to the ceramic tiles specialist Topps Tiles. The 320-store chain has seen like-for-like sales fall 18.3% in the past seven weeks. Yesterday's sales update came as the retailer announced a 27% fall in profits and axed its dividend payout. Its shares lost 2.5p to 18.5p - their lowest level in a decade. Eighteen months ago they were changing hands at 300p. "It is tough out there," said chief executive Matt Williams, "and it has got worse. Sales patterns coincide with bad news and this year it has been unrelenting. We saw a step down in business earlier this year when the housebuilders' problems emerged and another more recently when Lehman Brothers collapsed." Axing the dividend will save £18m, and the saving will be used to reduce the group's £92m debt. Last year the company paid out 10.7p a share. Williams predicted the dire trading conditions would continue next year and did not expect much impact from the cut in VAT in the pre-budget report, which takes effect on Monday. "It will give us a bit more to invest in price, but we will not adopt a blanket approach and change every price. That would be a logistical nightmare." He said the figures showed what a "resilient" business Topps is. About £6m has been cut from costs. The retailer has pulled all of its TV adverts but redundancies have been limited to a handful of positions at head office and it had no plans for more job cuts. Store staff, however, have had their hours reduced and some full-time staff have moved to part-time roles. They probably paid upfront for the shirt sponsorship deal at city so I don't expect we'll see an immediate impact, I'd love it if we could get rid of their stupid logo on the shirts though.
Wasyls Pec Deck Posted 26 November 2008 Posted 26 November 2008 Wouldn't be the end of the world for our shirts would it...
davieG Posted 26 November 2008 Posted 26 November 2008 They probably paid upfront for the shirt sponsorship deal at city so I don't expect we'll see an immediate impact, I'd love it if we could get rid of their stupid logo on the shirts though. What Sir said
Munzie Posted 26 November 2008 Posted 26 November 2008 Wouldn't be the end of the world for our shirts would it... Someone put Spongebob Squarepants on stand by....
Finchy Posted 26 November 2008 Posted 26 November 2008 Be great if we got rid of the sponser and ended up having shirts like West Brom and West Ham with no sponser! How football shirts should be!
Chairman of the Bored Posted 26 November 2008 Posted 26 November 2008 Possible job losses in Leicester wouldn't help the local economy. Uncertain times. Very uncertain times.
Munzie Posted 26 November 2008 Posted 26 November 2008 Possible job losses in Leicester wouldn't help the local economy. Uncertain times. Very uncertain times. I think job losses are a bit more wider than just Leicester.
The Stig Posted 26 November 2008 Posted 26 November 2008 In the current financial climate we need all the money we can get, even if ot does mean putting that daft tile on our shirts.
NewquayFox Posted 26 November 2008 Posted 26 November 2008 Hope the company that sponsors the numbers on the back doesnt go bust as we wouldnt know who was who playing. ;0)
Jimmy Posted 26 November 2008 Posted 26 November 2008 their deal is up at the end of this season anyway Hope the company that sponsors the numbers on the back doesnt go bust as we wouldnt know who was who playing. ;0) the numbers are official football league numbers and carry its logo, so i think they are safe ...
Shrenchel Posted 26 November 2008 Posted 26 November 2008 Be great if we got rid of the sponser and ended up having shirts like West Brom and West Ham with no sponser! How football shirts should be! Yeaaaah fook money!!! Let's let all the fans in for free as well and give Fryatt to Derby in January in exchange for hugs and friendship!!!
JakeShingler Posted 26 November 2008 Posted 26 November 2008 We should be Sponsered by a chariaty like Villa.
davieG Posted 26 November 2008 Posted 26 November 2008 We should be Sponsered by a chariaty like Villa. I think you'll find it's Villa sponsoring the charity.
JakeShingler Posted 26 November 2008 Posted 26 November 2008 I think you'll find it's Villa sponsoring the charity. Yeh you get my drift.
Fosse Boy Posted 26 November 2008 Posted 26 November 2008 I'm not a big fan of the current shirt design anyway, but getting rid of the sponsor might be a slight improvement. The Academy shirts don't carry a sponsor and they look a bit nicer.
Corky Posted 26 November 2008 Posted 26 November 2008 The Fratellis may sponsor it, given the exposure we've given their crap song
Munzie Posted 26 November 2008 Posted 26 November 2008 If we lose Top Tits Tiles, I would like to see a more macho sponsor. Someone like Upton Steel. They sound hard! We'll probably end up with some unknown company that makes pile cream or something.
jerakin Posted 26 November 2008 Posted 26 November 2008 I'd like to see our shirt sponsor Brucianni's. Sounds continental.
Zingari Posted 26 November 2008 Posted 26 November 2008 T Watts the scrap dealers should sponsor us , i'd love to see that on our shirts
NewquayFox Posted 26 November 2008 Posted 26 November 2008 Mike Hunt the incontinence pants man could have his name on the shirts, or maybe Betty Swollocks the cycle shorts manufacturer. ;0)
Zingari Posted 26 November 2008 Posted 26 November 2008 i'd like us to be sponsored by this shipping company
Corky Posted 26 November 2008 Posted 26 November 2008 Hugh G Rection building suppliers would be quite good.
NewquayFox Posted 26 November 2008 Posted 26 November 2008 Or Hugh Jarse manufacturer of piles cream, sorry i couldnt spell hemmarhoid. ;0)
ozleicester Posted 27 November 2008 Posted 27 November 2008 Wouldn't be the end of the world for our shirts would it... unnatractive as we may feel the sponsors advert is... trying to find someone else to hand over cash in the current climate is VERY VERY difficult. I suggest we all talk about topps tiles...whenever we get the chance or post anywhere..that way topps tiles will think they have good exposure and will continue to sponsor us...i think topps tiles are tops topps tiles topps tiles...etc etc.
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