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Topps Tiles reports a positive first quarter

Published: 12 January 2017 - Jenny Wonnacott

Topps Tiles has released a trading update for its first quarter, with sales up 0.3% for the 13 weeks ending December 31, 2016.

Chief executive Matthew Williams described the trading conditions as “softer” but said he “remains confident that we have continued to outperform the overall tile market. Against this background, our proven strategy, well-invested business and market leading position, leave Topps well-placed for further market share gains in the year ahead."

 

The quarter saw early results from Topps' expanded 'trade rewards+' loyalty programme, with 24,000 participating traders and approximately two thirds of sales linked to the scheme.

Following the retailer's exit from the low margin real wood flooring ranges in 2016, its enhanced wood effect tiles have continued to deliver strong growth, with the newly launched XL ranges trading ahead of initial expectations.

Five new stores were opened during the quarter, bringing the total number of Topps Tiles up to 356. The retailer is hoping to open around 15 new stores in total over the current financial year.

The retailer has also launched a new employer brand campaign which it believes will encourage new candidates and help retain employees.

Source: Topps Tiles

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