Topps Tiles floors the competition
Strong trading for expanding retailer
Topps Tiles is to continue its expansion programme after a further period of sales growth.
In an AGm statement, the tile and wood flooring specialist with 227 stores said that trading in the first 14 weeks of its current financial year iod has continued strongly, with overall turnover up by more than 24 per cent, and like-for-likes growth of more than 15 per cent.
Howver, founders and co-chairmen Barry Bester and Stuart Williams said that given the strong comparative growth, “sustaining current high levels of like-for-like sales growth over the entire financial period could prove to be challenging.
“As part of our UK expansion with a target of 350 stores we have planned a net new store roll out for this financial period of 24 stores, which will bring us to 244 UK stores by September 2005. So far we have opened seven stores and have a strong pipeline of sites for the remainder of the financial period.”
Williams is to step down as a board director of the business from March 31 to assume the newly created position of president, with Bester continuing as executive chairman.
The change will allow Williams to devote more time to his work for ‘The Williams Charitable Trust’ and other business interests, but he will remain a significant shareholder.
