Group sales are up at Topps Tiles, the Leicester-based tile specialist, according to a trading update for the 13-week period ended 2 July 2022.
The business’s third quarter has seen group sales rise 9.2% year on year, which includes the benefit of a full quarter of trading from Pro Tiler Tools.
The company said that it has continued to perform well in the third quarter, with like-for-like sales up 2.9% over the period. However, in the most recent eleven weeks, where the comparative period in FY21 was not impacted by trading restrictions, like-for-like sales were 0.9% lower when compared to a “very strong” period of trading last year.
Sales, margins and operating costs remain in line with Topps Tiles’ expectations.
Rob Parker, CEO, said: “Despite the continuing headwinds from lower consumer confidence, supply chain challenges and high inflation, trading remained encouraging and in line with our expectations in the third quarter, with Group sales up 9.2%.
“Sales per store in Topps Tiles remain significantly ahead of our pre-pandemic performance, Commercial and Pro Tiler Tools are growing well year on year, and we have successfully launched our newest brand, Tile Warehouse.
“Whilst we are mindful of the current economic pressures and their impact on the outlook for consumers, we are confident that our successful strategy, multiple growth drivers and strong balance sheet leave us well-positioned to deliver medium term growth and our 20% market share goal of ‘1 in 5 by 2025’.”
