Topps Tiles said that like-for-like sales grew in its third quarter, although growth was slower than in the same period the year before.
The bathroom and kitchen tile specialist enjoyed a 5.9% rise in like-for-like revenue, as it pursues a strategy of “out-specialising the specialist” by modernising its brand and improving its reach to tap into new demographics.
It recently opened a new Lab store in Worcester, bringing elements of its boutique store format, which targets more affluent consumers, to a new hybrid warehouse store format. The warehouse format sits in between its traditional larger core store fascia and the boutique format. During this period, Topps opened two core stores and six boutiques, with its store portfolio now at 346 stores.
Topps also introduced 14 new ranges during the quarter as it aims to improve its image around quality and on-trend products, adding to its catalogue of over 5,000 products which cater to a broad spectrum of more basic and discerning flooring needs.
“With uncertainty remaining over the future prospects for the DIY market as increasing scores of consumers use tradesmen to complete tasks such as buying and fitting flooring, Topps’ strategy of widening its positioning is helping to optimise its appeal and to make market share gains,” said Conlumino Senior Consultant, George Scott