Topps Tiles returns to sales growth as CEO announces retirement
Topps Tiles has reported improved trading in the run-up to Christmas as it announced that its chief executive is to retire.
In the 13 weeks to 28 December group sales were 4.6% higher year-on-year and up 12.9% in the last five weeks of the period.
Topps Tiles said the first quarter improvement was driven by the ongoing strengthening of its trade offer where it saw “robust” revenue growth at both Topps Tiles and Pro Tiler Tools.
During the quarter, total traffic to Topps Tiles’ digital channels climbed by 17% as sales transacted online grew by 8%. A five-fold increase in online trade traffic helped drive a 60% uplift in online trade sales in the Topps Tiles brand.
The group is currently working to deliver its ‘Mission 365’ goal which includes improving the trade digital experience, expanding into new coverings categories and increasing its B2B sales focus. It is also continuing to expand Pro Tiler Tools and build Tile Warehouse to maturity
Rob Parker, Topps Tiles chief executive, said: “We are pleased to see the group return to sales growth in the first quarter of the new financial year, supported by our strong trade offer and continued strategic progress, particularly with our digital and omnichannel growth initiatives.
“Whilst it is early in the financial year and macroeconomic indicators remain mixed, we are pleased that our growth strategy is delivering strong results, which leaves us well positioned to deliver our goal of Mission 365.”
Topps Tiles has also announced that Parker will be retiring from the business. Having joined the group in 2007, he served as chief financial officer for 12 years before becoming chief executive in 2019.
He will remain in post until his successor has been appointed which is expected to be towards the end of 2025.
Paul Forman, Topps Tiles chairman, said: “Rob has made an enormous contribution to the development and success of the business over the last 18 years.
“During his time as CEO, he has overseen a period of significant diversification and growth of the business, and has led the group through a particularly volatile period for the UK economy, including the Covid pandemic.
“He will leave with the group well-positioned and we are grateful for his continuing leadership and commitment while we complete a managed transition to his successor.
“On a personal note, I would like to thank Rob for the support, professionalism and insight he has given me as a newly appointed chair.”
