Topps Tiles quarterly like-for-likes up 1.8%

384
Topps Tiles
// Topps Tiles like-for-like sales up 1.8% in Q2
// For the half-year period to March 30, like-for-likes were up 0.2%
// Total revenue fell from £109.4m to £108.8m

Topps Tiles has reported that its like-for-like sales have increased by 1.8 per cent in the second quarter, bouncing back after a 1.4 per cent drop in the first quarter.

For the 26 weeks to March 30, the British retailer said like-for-likes were up 0.2 per cent.

However, total revenue for the half-year period fell from £109.4 million to £108.8 million.

“We estimate that the effect of weather conditions in the prior year and a later Easter this year has benefitted like-for-like sales over the quarter by around 1.6 per cent,” Topps Tiles said in a statement to the London Stock Exchange.

Topps Tiles chief executive Matthew Williams said: “I am encouraged by our overall performance in the first half and believe the successful execution of this strategy is enabling us to outperform the overall tile market.

“Our commercial business is growing at pace and we remain open to opportunities to accelerate its expansion.”

Click here to sign up to Retail Gazette’s free daily email newsletter