Topps Tiles is the leading tile retailer in the UK with around a third of the tile market. Since its first store was opened in Manchester in 1963, the company now trades through over 300 stores. It also has a boutique store format that lets Topps trade through high street locations and appeal to a wider audience.
Topps Tiles advises consumers and traders on products, and sells floor and wall tiles, accessories and aftercare solutions.
Over the past few years, it has also established a toehold in the commercial market through the acquisition of two small UK specialists. Stores remain at the heart of Topps’ strategy with 90% of customers visiting a store as part of their purchase.
But the retailer is investing in strengthening multichannel and is using technology to enhance the customer experience and inspire its shoppers. Recent initiatives include a series of visualisation tools and the launch of a new website, including omnichannel technology capability.
Topps Tiles’ financial performance is inextricably linked to the property market, which has come under pressure on the back of political and consumer uncertainty surrounding Brexit.
Following a few years of low consumer confidence, Brexit uncertainty, several general elections and a Christmas dubbed “the worst in a decade” by the BRC, big-ticket retailers have been battered by the retail storm.
Topps Tiles has reported a decline in like-for-like sales in its first quarter, when political uncertainty hit trade.
Topps Tiles has suffered a dip in full-year profits and warned that sales have slumped since Prime Minister Boris Johnson called a general election last month.
Topps Tiles boss Matt Williams is stepping down from the business after 12 years at the helm.
After mixed results from furniture retailers DFS, Eve and ScS, Retail Week looks at how the big-ticket furniture retailers are performing and what their prospects are in uncertain times.
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