Topps Tiles hails omnichannel model after delivering record sales

The flooring specialist reported sales of £130.5m in the 26-week period ending April 1, 2023, a 9.5% increase in revenues compares with the previous year. Of this growth, the Topps Group attributed £9m to the acquisition of Pro Tiler Tools and launch of Tile Warehouse in 2022.

Like-for-like sales grew 3.5% in the second quarter and were up 4.3% in the first half. Customer satisfaction scores also continued to improve as the business increased its mix of sales to trade customers to 59%.

The retailer said gross margin percentages were also expected to increase in the second half of the year, as supply chain pressures eased and cost price rises came down.

Online sales hit £10.1m, up from just £1.1m for the same period the previous year.

Given the strong start, Topps Tiles said it was confident in the outlook for the rest of the year and expects profitability to be weighted towards the second half of the financial year.

Topps Tiles chief executive Rob Parker said: “Our performance across the first half has been good, with a record period for group revenues, supported by like-for-like sales growth in Topps Tiles of 4.3% and an excellent post-acquisition performance from Pro Tiler Tools.

“The economic outlook remains uncertain, but early signs of easing supply chain pressures, allied to the group’s strong balance sheet, world-class customer service, specialist expertise and growth strategy, give us confidence in our ability to drive value for all stakeholders over the medium term.”

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