Topps Tiles reports first quarter sales growth
Topps Tiles has posted year-on-year sales growth in its first quarter as it delivered sales increases across each of its businesses.
In the 13 weeks to 27 December, revenue excluding CTD, a business Topps Tiles acquired in 2024, rose by 3.7% across the group.
The Topps Tiles brand grew its sales by 2% on a like-for-like basis as trade sales increased by 3.7% and the brand benefited from strategic category extensions. This meant that Topps Tiles achieved its fifth consecutive quarter of like-for-like growth in the period.
Including CTD, group sales edged up 1.6%, although the CTD operation is now smaller than previously with 22 stores compared to 31 last year. The fourth and final CMA-mandated disposal store was completed in December which brought the CMA process to a conclusion. The group said the remaining CTD stores have delivered like-for-like growth of 4.7%.
In its full year results announcement in early December, Topps Tiles confirmed that it had acquired the Fired Earth brand, website and stock and by 16 December it had established a fully operational supply chain and transactional website. This meant the group was able to fulfil “strong” demand from customer orders.
Alex Jensen, Topps Group recently appointed chief executive, said: “The group continued to deliver growth in Q1 across each of our existing businesses and delivered like-for-like growth in CTD stores, whilst achieving some significant milestones, including appointing an interim and permanent CFO, closing the CMA process with CTD and acquiring Fired Earth assets. We are confident of delivering another year of progress both strategically and financially”.
