THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Topps Tiles profits climb as like-for-likes rise by 10.2% in first half

Topps Tiles saw its first half pre-tax profit rise to £8 million from £4.7 million a year earlier as the tile retailer benefited from improved consumer confidence and a stronger housing market.

GENERAL MERCHANDISE

Topps Tiles profits climb as like-for-likes rise by 10.2% in first half

In the 26 weeks to 29 March 2014, like-for-like revenues grew by 10.2% while group sales rose by 11.7% to £97.7 million.

Topps Tiles said the like-for-like growth reflected the company’s focus on growing its market share as well as improving levels of consumer confidence.

During the period, the retailer saw encouraging initial results from its trial of the new smaller format "Topps Tiles Boutique" stores which will continue to open in the second half with a further two stores to launch in and around the M25.

Topps Tiles chief executive Matthew Williams said: "The group has delivered a very successful first half performance, with strong sales growth, improving gross margins and overall growth in profits. While trading conditions undoubtedly improved during the period, helped by a higher level of consumer confidence, we believe our first half sales growth was significantly ahead of the overall tile market.

"Our strategy continues to focus on market share gains driven by offering an authoritative and differentiated range, outstanding service, and multi-channel convenience, resulting in excellent overall value for money."

The retailer reported making a good start to the second half with like-for-like sales rising by 5.6% in the seven weeks to 17 May 2014.

Williams added: "We believe we continue to grow sales ahead of the market and remain confident that our strategy will continue to deliver profitable market share gains, against a backdrop of a steady improvement in UK economic indicators."

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Retail Human Resources Summit
Retail Human Resources Summit
Wednesday 3 October 2018
The Cavendish Conference Centre, London W1
The 10th HR Summit 2018, The Cavendish Conference Centre, London W1, 3rd October 2018
The Retail Design Summit 2018
The Retail Design Summit 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Summit 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
National Minimum Wage Breakfast Briefing
National Minimum Wage Breakfast Briefing
20 September 2018
6th Floor 1, St. Martin's Le Grand London, EC1A 4AS
National Minimum Wage Breakfast Briefing