Topps Tiles tops full year expectations as the home improvement boom continues

Sales continued to climb for Topps Tiles as the home improvement boom shows no signs of stopping beyond the pandemic.

Group sales in the 52-week period were approximately £247.3m, a second consecutive record year of turnover, with year on year sales growth of 10.6 per cent. 

Topps Tiles said it continued to perform well against a “very strong comparative period last year”.  Like-for-like sales were 1.2 per cent lower than last year in the final quarter, but like-for-like sales growth for the full year in Topps Tiles was still 9.4 per cent.

Average weekly sales per store in Topps Tiles this year were 25 per cent higher than in the pre-pandemic period in 2019, which the firm said was thanks to closing underperforming stores.

Overall, Topps Tiles said adjusted profits for the year are expected to be towards the upper end of market expectations.

““Our market leading omni-channel retail business, Topps Tiles, has performed well against strong prior year comparatives and we are continuing to grow our base of loyal trade customers,” chief exec Rob Parker said.

“Our expansion into the commercial market through our Parkside brand is now generating in excess of £10 million of sales, and we expect it to be profitable moving forwards.  This year we have further expanded our activities into online pure play through the acquisition of Pro Tiler Tools and the creation of Tile Warehouse – both of which present further opportunities for profitable growth.”