Topps Tiles has reported surging sales during the first quarter as the search for a new chief executive begins to succeed long-serving boss Rob Parker.
For the 13 weeks to December 28, 2024, Topps Tiles reported a 4.6% increase in group sales year on year, while like-for-like sales were up 3.5%.
During the most recent five-week period, sales jumped 12.9% year on year and 12.5% on a like-for-like basis.
Online sales were also “strongly positive” during the period and the retailer noted “robust growth” in trade revenue at both Topps Tiles and Pro Tiler Tools.
Topps Tiles said its ‘Mission 365’ growth strategy had made “good further progress” in all five of its elements.
At the end of the period, the number of active registered traders had increased 7% year on year to 141,000.
Alongside an update on trading, Topps Tiles also announced today that chief executive Parker has notified the board of his intention to retire after 18 years at the group.
Parker joined Topps Tiles in 2007 and was chief financial officer for 12 years before becoming chief executive in 2019.
Topps Tiles said a search for his successor has begun with the support of external consultants.
Parker is understood to be staying in his role until a replacement has been appointed to “ensure an orderly transfer of responsibilities”, which is expected towards the end of this year.
Parker said: “We are pleased to see the group return to sales growth in the first quarter of the new financial year, supported by our strong trade offer and continued strategic progress, particularly with our digital and omnichannel growth initiatives.
“Whilst it is early in the financial year and macroeconomic indicators remain mixed, we are pleased that our growth strategy is delivering strong results, which leaves us well positioned to deliver our goal of Mission 365.”
Chair Paul Forman added: “Rob has made an enormous contribution to the development and success of the business over the last 18 years. During his time as CEO, he has overseen a period of significant diversification and growth of the business and has led the group through a particularly volatile period for the UK economy, including the Covid pandemic.
“He will leave with the group well-positioned and we are grateful for his continuing leadership and commitment while we complete a managed transition to his successor. On a personal note, I would like to thank Rob for the support, professionalism and insight he has given me as a newly appointed chair.”
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