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Topps Tiles hails strong sales growth

Topps Tiles has said it performed well in its third quarter with retail like-for-like sales climbing by 12.9% on a two-year basis in the 13 week… View Article

HOME AND DIY RETAIL NEWS

Topps Tiles hails strong sales growth

Topps Tiles has said it performed well in its third quarter with retail like-for-like sales climbing by 12.9% on a two-year basis in the 13 week period to 26 June.

In addition, sales rose by 18.5% in the eleven weeks since the retailer’s stores fully re-opened after the easing of Covid-19 lockdown restrictions. Topps Tiles said the successful launch of an extended outdoor range and increasing demand for its value offer were the main drivers of the growth.

Rob Parker, Topps Tiles chief executive, said: “I’m encouraged by the strength of the group’s performance in the third quarter, following the lifting of trading restrictions in mid-April. Building on the initial recovery we reported at the time of our interim results, our retail sales strengthened further over the balance of the period. We remain positive on the trading outlook for remainder of the financial year, and are well positioned to take advantage of increased consumer confidence and spending as we focus on our market share goal of ‘1 in 5 by 2025.”

The retailer said it has now repaid all the support it received in the first half of its financial year from the Coronavirus Job Retention Scheme.

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