Q3 Trading Statement

RNS Number : 7178R

Topps Tiles PLC

01 July 2015

 

1 July 2015

Topps Tiles Plc

Q3 Trading Statement

Topps Tiles Plc (the "Company"), the UK's largest tile specialist, reports on the 13 weeks ended 27 June 2015.  

Trading

Like-for-like revenues for the third quarter increased by 5.9% (2014: increase of 6.3%), reflecting continued growth in market share.

Strategic Progress

We continue to make good progress with our strategy of out-specialising the specialist, with specific initiatives in the period including:

·	Inspiration - the opening of our new Lab Store in Worcester which trials new merchandising treatments  inspired by our Boutique format
·	Range - 14 new ranges launched in the period, all of which are exclusive to Topps with trade-marked branding
·	Convenience - we opened 2 new core stores and 6 Boutiques in the third quarter. We are currently trading from 346 stores and expect to finish the year with c.348

Financial Update

Management remain comfortable with current market expectations for the year as a whole.

Matthew Williams, Chief Executive Officer, said: "Trading in the third quarter has been encouraging, with like for like sales growth at 5.9%, building on the positive trend we reported for the first half.  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."

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Enquiries:

Topps Tiles Plc	0116 282 8000
Matthew Williams, Chief Executive Officer
Rob Parker, Chief Financial Officer
Citigate Dewe Rogerson	020 7638 9571
Kevin Smith / Nick Hayns

Note to editors

Topps Tiles Plc is the UK's largest specialist supplier of tiles and associated tools and accessories, targeting the UK domestic refurbishment market and serving a retail and trade customer base from 346 stores nationwide.

Since opening its first store in 1963, Topps has maintained a simple operating philosophy - inspiring customers with unrivalled product choice and providing exceptional levels of customer service.

This focus has established Topps as market leader in the UK, and underpins its successful strategy of taking profitable market share, which has increased from 22% in 2007 to 30.3% in 2014.

For further information, please visit www.toppstiles.co.uk/media-centre/investors.asp

 

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