Posted 4th July

Topps Tiles sees 3.8% LFL sales rise in Q3 2019

4th July 2019 - 13:24pm
money matters, topps tiles, revenue, profit, financial, report, kbb, kbbdaily

Topps Tiles has reported a rise in like-for-like sales of 3.8% for the third quarter of its 2019 financial year, a marked improvement from the 2.3% loss reported in the same period in 2018.

The company said its ‘Out-specialising the specialists’ strategy “continues to deliver strong results”, adding that it opened three new sites during the period, resulting in 365 retail stores in total.

“The business performed well over the third quarter with like-for-like sales growing by 3.8%,” said Topps Tiles CEO Matthew Williams.

“While this is in part due to a softer trading period in the prior year we are encouraged that the successful execution of our strategy is delivering good trading results.”

In May, Williams said the group had delivered a “resilient” first-half performance despite reporting a 0.2% year-on-year decline in revenue and an 18.8% drop in pre-tax profit.

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