malbrun25 May 2010 10:53
I see what you are saying, but IMO having a rage against someone who presents an opposing view can sometimes make one blind. The facts that I (and Bar rat) state are real, the problems faced by specifically the tile market are very clear to anyone. Major multiples such as B&Q have massively increased market share, Wickes run a very successful TV ad campaign, St Gobain are upgrading builders merchant displays to better than tile shop standards, Tile Giant continues to expand, as does Al Murad with highly aggressive pricing strategies. Topps have commanded super high GPM in the past, unsustainably high IMO, because the in costs, being almost all imports, have risen so fast due to sterling depreciation. Unless they can drastically cut costs, or increase sales, Topps are caught in the crossfire. and now the sp is beginning to reflect that. This is my calm and considered view, not a rant. I answered my own question because I am certain that bwell has done no research at all, and doesnt understand where the tile market is at present, but I would be happy to study any alternative views.