Topps Tiles reports improved second quarter trading
Topps Tiles saw its like-for-like sales edge up 0.2% in the first half of its financial year following improved trading in its second quarter.
In the 26 weeks to 30 March, revenue was £108.8 million compared to £109.4 million in the same period in the previous year.
The retailer said trading over the second quarter had improved from the first quarter with like-for-like sales increasing by 1.8%.
Topps is currently working through its “Leading Product” strategy which focuses on product differentiation and innovation. This has led it to launch 20 new ranges so far this year, including a porcelain tile range that has been developed specifically for outdoor use.
The retailer is also building a commercial division aimed at architects and designers, and has opened a flagship design studio in London’s Clerkenwell.
Matthew Williams, Topps Tiles chief executive, said: “Developing and reinforcing our specialism in tiles is at the heart of our growth strategy. I am encouraged by our overall performance in the first half and believe the successful execution of this strategy is enabling us to outperform the overall tile market. Our commercial business is growing at pace and we remain open to opportunities to accelerate its expansion.”
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