Topps Tiles’ like-for-like sales have jumped by around 5.2% as bosses bid to capitalise on a predicted increase in spending on home improvements.
In a pre-close-period trading update, Topps Tiles said revenues will be around £104m for the 26 weeks ending March 28, a 6.4% jump year on year.
Chief executive Matthew Williams is confident of sustaining the retailer’s growth as disposable income levels continue to rise and consumers splash out more on home improvements.
It comes after Topps Tiles reported a 6% jump in first quarter like-for-likes in its last update back in January.
Williams said: “I am pleased to report that trading has been encouraging and we have delivered a like-for-like sales increase of 5.2% for the first half of our financial year.
“These trading results compare to a particularly strong period in the prior year and reflect a two year like-for-like growth in excess of 15%.
“Looking ahead, while experience tells us that the forthcoming UK general election may add some short-term uncertainty to trading patterns, rising levels of disposable income should support increased consumer spending on home improvements.
“The group is well positioned to continue to grow market share as we accelerate our plans to extend the appeal of the Topps brand.”
Topps Tiles, which now has 339 stores, will announce interim results for the period on May 19.
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