Essential reading for retailers and suppliers in the home improvement market

Profits fall at Topps Tiles "against challenging marketing backdrop"

Published: 9 January 2019 - Kiran Grewal

Tile specialist, Topps Tiles Plc has announced a trading update for the 13 week period ended 29 December 2018, with like-for-like revenues for the first 13 weeks of the current financial year decreased by 1.4%, when in 2018 revenue had increased by 3.4% for the same period.

However trading took a downward slope for the rest of the year, with the first eight weeks of the new financial period seeing Group revenues decrease by 1.9%.

Retail - our strategy of "out specialising the specialists" continues to serve us well, Topps Tiles said in its report. Digital remains at the heart of its multi-channel business, with almost all of its customers utilising the digital aspects of its offer and its stores as part of their journey. The Group is now trading from 367 stores, in Q1 2018 the figure was at 371, having opened one and closed two stores during the period, but the company has said the flexibility of its core estate is a "key strength". 

Commercial - we continue to make good progress with our plans for commercial and our strategy of "disrupt and construct" is proving successful. Topps has focused on recruiting an experienced salesforce and are evaluating opportunities to further strengthen the team, it said. "We are building an encouraging pipeline of future potential projects and are on track to open two new showrooms during the second quarter; bringing the total to four". 

 

Chief executive officer at Topps Tiles, Matthew Williams commented: "Against a challenging market backdrop and a strong period of performance in the prior year we believe the business has performed robustly over the first quarter.  We remain excited by both the opportunity for profitable growth that our expansion into commercial segment will bring and the continued opportunity to further strengthen our market leading position overall."

Comments


(Your email address will not be published)
Already Registered?
Sign In
Not Yet Registered?
Register
Printable View E-mail Bookmark
*

Latest reader comments

re: Latest update on Green Homes Grant and implications for homeowners and landlords

John Hart
After applying for a green homes how long will it take for a decision? thanks...

re: SX Rainproof Exterior Caulk

Wally
I need the exterior sx rain resistant caulk! Can't get it anywhere so please help! How can I order it? Need it yesterday...

re: BCT can replicate any material in a ceramic tile

Christina Tiritanou
Not sure if you can help as I require a tile which has the measurements of 6”x 6”? Thank you....

re: Latest update on Green Homes Grant and implications for homeowners and landlords

colin thompson
SarahVery clear and helpful information.Thanks...

Most read stories