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1 Jul 2015 07:00
1 July 2015
Topps Tiles Plc
Q3 Trading Statement
Topps Tiles Plc (the "Company"), the UK's largest tile specialist, reports on the 13 weeks ended 27 June 2015.
Trading
Like-for-like revenues for the third quarter increased by 5.9% (2014: increase of 6.3%), reflecting continued growth in market share.
Strategic Progress
We continue to make good progress with our strategy of out-specialising the specialist, with specific initiatives in the period including:
· | Inspiration - the opening of our new Lab Store in Worcester which trials new merchandising treatments inspired by our Boutique format
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· | Range - 14 new ranges launched in the period, all of which are exclusive to Topps with trade-marked branding
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· | Convenience - we opened 2 new core stores and 6 Boutiques in the third quarter. We are currently trading from 346 stores and expect to finish the year with c.348
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Financial Update
Management remain comfortable with current market expectations for the year as a whole.
Matthew Williams, Chief Executive Officer, said: "Trading in the third quarter has been encouraging, with like for like sales growth at 5.9%, building on the positive trend we reported for the first half. With our plans to extend the appeal of the Topps brand well underway, we remain well-positioned to continue to grow our market share in the remainder of the year."
- Ends -
Enquiries:
Topps Tiles Plc | 0116 282 8000 |
Matthew Williams, Chief Executive Officer | |
Rob Parker, Chief Financial Officer | |
Citigate Dewe Rogerson | 020 7638 9571 |
Kevin Smith / Nick Hayns |
Note to editors
Topps Tiles Plc is the UK's largest specialist supplier of tiles and associated tools and accessories, targeting the UK domestic refurbishment market and serving a retail and trade customer base from 346 stores nationwide.
Since opening its first store in 1963, Topps has maintained a simple operating philosophy - inspiring customers with unrivalled product choice and providing exceptional levels of customer service.
This focus has established Topps as market leader in the UK, and underpins its successful strategy of taking profitable market share, which has increased from 22% in 2007 to 30.3% in 2014.
For further information, please visit www.toppstiles.co.uk/media-centre/investors.asp
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