Topps Tiles [LSE: TPT]
Not so much news from the High Street but from the Retail Park, Topps Tiles have published a trading update this morning and the downbeat mood for shopkeepers remains in evidence. Like for like sales over the six months to March 31st are up 0.6% on the previous year, but trading post Christmas has been tardy. By the company’s own admission, even accounting for the bad weather and timing of Easter, 2018 has seen a slow start.
Shares in music streaming service Spotify came to market yesterday and despite the unusual direct placing, the abject volatility that may have been seen didn’t materialise. Shares admittedly closed 10% down – which equates to about $3 billion – but as the Financial Times reports, the only disaster on the day seems to have been at the hands of the New York Stock Exchange. They were supposed to fly a Swedish flag outside the Exchange to mark Spotify’s debut, but ended up with a Swiss one, instead.
Ryanair Holdings [LSE: RYA]
A short note from Ryanair this morning, updating the market on its March passenger figures. 10 million seats were sold for the month, up 6% on a year ago and giving a load factor of 95% – good for shareholders, but not so much for passengers hoping to find an elusive free seat next to them. The relatively early Easter will have served up some benefit here, but at the same time recent bad weather will have had an impact. Clearly last year’s debacle where a slew of flights were cancelled because of a pilot shortage has had no lasting impact.