Topps Tiles first quarter sales up 3.4%
Tile retailer Topps Tiles has made an "encouraging" start to its financial year with like-for-like sales increasing by 3.4%.
This compares to growth of 0.3% in the same period in the previous year.
Matthew Williams, Topps Tiles chief executive, said: "The group has made an encouraging start to the new financial year with like-for-like sales in Q1 up by 3.4%. We believe this represents an outperformance of the overall tile market in the period, reflecting the continued success of our strategy of "Out-specialising the Specialists" and some further measured investment in both our trade and retail offer during the period.”
As it works on its growth strategy for its core domestic business, the company is also pushing forward with the development of a new division targeting the commercial tile market.
Building on its acquisition of Parkside Ceramics in September 2017, the Parkside commercial offer was launched at the 100% Design trade show in October and the first commercial showroom opened in Chelsea in December.
Williams added: “Our expansion into the commercial market is also progressing to plan, with the first investments made in the Parkside business adding new capabilities and resource. While we are pleased with the like-for-like sales growth achieved in Q1, we are retaining our prudent view of market conditions for the year ahead."
Topps Tiles operates 371 stores nationwide.
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