TOPPS Tiles posted a jump in third quarter underlying sales yesterday as efforts to modernise its brand and broaden its appeal to include more higher-earning customers paid off.
The retailer, which has 346 stores, reported a 5.9 per cent rise in like-for-like sales in the 13 weeks ended 27 June – its third consecutive quarter that underlying sales have risen above five per cent.
“Trading in the third quarter has been encouraging,” chief executive Matthew Williams, said. “With our plans to extend the appeal of the Topps brand well underway, we remain well-positioned to continue to grow our market share in the remainder of the year,” he added.
Outside of the company’s core stores it has smaller format Boutiques stores, which it has been using to enter more affluent catchment areas in London such as Chelsea and Fulham.
It also opened new concept store in Worcester, in the Midlands, that will combine some of the features of its traditional warehouse stores with its Boutique store format.
Topps Tiles also introduced 14 new ranges during the quarter, adding to its catalogue of over 5,000 products.
Retail consultancy Conlumino’s George Scott: “With uncertainty remaining over the future prospects for the DIY market as increasing scores of consumers use tradesmen to complete tasks such as buying and fitting flooring, Topps’ strategy of widening its positioning is helping to optimise its appeal and to make market share gains.