Member Info for Whatisgoingon

What on earth are the new bosses at Topps Tiles up to?

Currently showing 103 retail vacancies with lots of 10 hour contracts and even one for 6 hours a week !!

They really don't understand how a tile store operates, it's not a click and collect like Screwfix, it's a service business.

How is anyone supposed to gain experience or build rapport with traders when only working 6 or 10 hours a week?

Absolutely clueless.

Yes the CEO was good but is no longer there. The Management team is nothing like as good as it was and increase in sales over the past few years is mainly down to acquisitions and inflation.

Topps senior management has lost a lot of experienced tile people over the last few years, with people either leaving as they become dissilusioned with the way the company is heading or as result of long term management being moved on from the business.

New CEO, CFO and operations director Simon Robinson have zero experience of the Tile industry, so I don't see a particularly strong future for Topps.

I agree with what you're saying, but don't agree with your thought process about me only commenting on TPT.

They are currently the only shares I own and don't see why I should be excluded from chatting about them because I don't have a diverse portfolio. We all have to start somewhere.

I was referring to MasterRSI, not yourself

You're very insistent that these shares are a "strong buy".

Not sure why you have that opinion and it certainly isn't playing out that way.

Have Topps gone one step too far with their latest acquisition?

https://www.toppsgroup.com/investors/rns-feed/rns-announcement/?rid=6335185

I have no issue with organic growth in complementary segments.

I do however think this is left wide open for them to buy another bonus by buying other businesses.

Agreed,

The management has certainly become weaker over time with regards to experience on the tile market.

Robert Parker was clearly a fine CFO, but does that always translate to a CEO position.

Stephen Hopson is another money man with no experience of the industry.

The latest HR director lasted a matter of weeks, and I believe they are looking for a replacement Regional Durector of Sales.

It would appear all is not so rosy.

Mission 365 requires a huge leap in sales.

Can't see how they will make that organically. Looks like another LTIP where they will need to buy up other businesses to get their bonus.

TheTrotsky,

I'm not sure that assumption is correct as Topps also sell adhesives and ancillary products. As far as I know it was just 1 in 5 of the tile market including adhesives etc.

I agree 100% with dessertstars view on Management Share Schemes.

In order to hit their target of 1 in 5, they simply bought other businesses.

Where the strategy used to be "profitable market share" the word profitable didn't matter to them in this case.

Scandalous really that they can make huge bonuses in this way.