Topps sees further growth as shoppers turn to tradesmen
Tiles and flooring chain Topps Tiles has continued to see sales increase, as consumers turn away from DIY.
The 343 store chain has seen like for like sales rise by 5.1% in the six weeks to 9 May. This follows a like for like 5.3% rise on the six months to 28 March, when total sales rose by 6.4% to £104m.
Pre-tax profits rose from £8m to £9.1m. This was despite higher trade sales diluting gross margin from 60.8% to 60.7% as trade sales rose from 44% to 48.3% of sales.
‘Our well-established trade offer is also ensuring that we keep pace with the accelerating "do it for me" trend, as more customers than ever use a professional fitter for their tiling project.Our retail customers' increasingly ambitious tile projects result in additional complexity which our trade customer base is ideally suited to help deliver,’ says Matthew Willaims, Topps Tiles chief executive.