Topps Tiles sees sales jump

Topps Tiles has seen sales increase by almost a fifth since stores re-opened in April.

The chain saw like for like sales jump by 18.5% in the 11 weeks to 26 June compared with 2019. Like for like sales were 12.9% higher for the quarter, which included two weeks when stores were closed.

It said it has been buoyed by an extended outdoor offer and demand for its value offer, but warned margins had dipped.

It has repaid furlough support and cash balances have risen to £26.9m.

‘I’m encouraged by the strength of the group’s performance in the third quarter, following the lifting of trading restrictions in mid-April. Building on the initial recovery we reported at the time of our interim results, our retail sales strengthened further over the balance of the period. We remain positive on the trading outlook for remainder of the financial year, and are well positioned to take advantage of increased consumer confidence and spending,’ says Rob Parker, Topps Tiles ceo.

ToppsBistro

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