Topps Tiles grows like-for-like sales by 4.4%
Topps Tiles grew its like-for-like sales by 4.4% in the first quarter of its financial year.
The retailer said it made good progress with its “Out-Specialising the Specialists” strategy in the 13 weeks to 2 January. This included the completion of a second “lab store” in London’s Shoreditch which features a range of new display and merchandising treatments.
In its core estate Topps Tiles opened two new stores and closed two existing stores in the period. The group is currently trading from 340 stores including 13 boutique shops.
In addition, Topps Tiles has now concluded two previously announced initiatives to streamline its business. During the period seven clearance stores were closed and four remaining stores are currently being converted to Topps Tile’s core format.
Matthew Williams, Topps Tiles chief executive, said: “I am pleased to report an encouraging start to the financial year with like-for-like sales growth of 4.4% in the first quarter. Our strategy of ‘Out-Specialising the Specialists’ continues to be very effective and we are confident that our plan for 2016 will see us deliver additional profitable sales growth as we further extend the appeal of the Topps brand.”
