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TOPPS TILES ANNOUNCES LIKE-FOR-LIKE SALES INCREASE

Topps Tiles Plc has announced a 0.2% increase in like-for-like sales in the 26-week period to 30 March. Total revenues were £108.8 million.

Trading over the second quarter has improved from the levels reported in Q1, with like-for-like sales increasing by 1.8%. The company says that the effect of weather conditions in the prior year and a later Easter this year benefitted like-for-like sales over the quarter by around 1.6%. It also says that the continued execution of its strategy is enabling us to outperform the overall tile market.

Topps says its strategy of “Out Specialising The Specialists” is enabling it to coutperform the UK tile market. It is now rolling out its latest merchandising initiatives across its estate and has completed 39 mini-refits during the period, bringing the total number of completed stores to 180. It has also launched “Tile Talk”, a new customer feedback system, which has resulted in an overall satisfaction score of 86%, placing the company, it says, amongst the top five retailers in the UK.

It ended the period with 361 stores trading and a further four in fit-out, having opened six and closed 13 stores during the first half.

On the commercial side the strategy of “Disrupt and Construct” is said to be making good progress. Underlying commercial sales in the first half have grown about three-fold year-on-year. During the first half Topps opened a flagship design studio in Clerkenwell, the heart of the London’s architect and designer community. It is continuing to build its team of industry sales experts, with an additional five sales people joining the business over the period.

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