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Topps Tiles on track for record full-year sales

Topps Tiles has said it is on track to achieve record full-year sales as it continues to increase its market share.

GENERAL MERCHANDISE

Topps Tiles on track for record full-year sales

Topps Tiles has said it is on track to achieve record full-year sales as it continues to increase its market share.

In the 53 weeks ending 3 October, the company expects revenue to be in the region of £212 million.

Meanwhile, like-for-like sales are expected to show an increase of circa 5.3% on the prior year. On a two year basis like-for-like sales have grown by circa 14%.

In a pre-close trading statement the company also said it remains comfortable with current market estimates for adjusted pre-tax profits for the year.

Topps said it was making good progress with its strategy of "out-specialising the specialist". This has included the further development of its online tile visualiser and the planned roll-out of new merchandising treatments across the existing store estate.

The retailer has also launched 17 new ranges in the last quarter and has also opened three new core stores and two boutiques. Topps expects to finish the year with a total of 348 stores.

Matthew Williams, Topps Tiles chief executive, said: "I am pleased to report that Topps will complete a successful year, with good growth in profits and a record level of turnover, both of which are directly attributable to our strategy of out-specialising the specialist.

"As a result of this, we are confident of hitting our one third market share goal by the end of this year and are well advanced on developing our next strategic goal for the organisation."

 

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