Topps Tiles has released sales results for the 26 weeks ending April 2, with total sales growth of 3.8%, and like-for-like increases of 4.7%.
Gross margin increased to 61.5% driven by "increased direct sourcing, product exclusivity and new product introductions." Adjusted EPS growth was 15.5% year on year, and net debt was reduced by £2.6m to £28.4m.

Operational highlights included the successful strategy of "out specialising the specialists" which delivered profitable sales growth. Two key simplification initiatives were announced at the year end, including "exit from the Topps Clearance format and consolidation of central teams into our main office in Leicester."

Seven new stores were opened, four of which were new sites and three conversions from the Topps Clearance format, offset by nine closures.

The group has reported a "strong start" to the second half, with LfL sales up 8.4% in the seven weeks to May 21.

Said chief executive Matthew Williams: "Topps has delivered a robust first half performance as our successful strategy of "out-specialising the specialists" continues to generate profitable sales growth. Like-for-like sales grew by 4.7% in the period as initiatives to upgrade and rebrand our stores led more customers to reappraise the Topps brand and shop with us for the first time. Further improvements are in development and will be rolled-out in the remainder of the year and beyond.

"The Group has made a strong start to the second half, with like-for-like sales growth of 8.4%5 in the first seven weeks of the period. We are confident our plans to extend the appeal of the Topps brand have significant further potential and are excited about the opportunities ahead."