Leicestershire tile specialist Topps Tiles has returned to sales growth in the first quarter of its new financial year.
Group sales in the 13 weeks ended 28 December were 4.6% higher year-on-year, with sales in the most recent five-week period up 12.9% year-on-year.
The sales improvement in the first quarter was driven by the ongoing strengthening of the group’s trade offer.
Rob Parker, Chief Executive, 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.”
The results come as Topps Tiles CEO, Rob Parker, has shared his plans to retire from the business after 18 years. Rob joined the group in 2007 and served as CFO for 12 years before becoming CEO in 2019. The search process for a new Chief Executive Officer has commenced.
Rob will remain in post until an appropriate successor has been appointed, which is expected to be towards the end of 2025.
Paul Forman, Chairman, said: “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.”
