Topps Tiles surpassed expectations in the final weeks of 2024 as the retailer made progress with efforts to boost professional trade sales. The group followed three consecutive record years for revenues with a disappointing 2024, as poor consumer sentiment and broader economic weakness saw profits almost halve in the year to 28 September.
But Topps told investors on Wednesday that group like-for-like sales in the 13 weeks to 28 December were up 4.6 per cent year-on-year, with 12.9 per cent growth over the final fives weeks. The group attributed gains over the period to 'robust growth in trade revenues' at both Topps Tiles and Pro Tiler Tools.
It came as Topps revealed the planned retirement of boss Rob Parker, who will step down by the end of 2025 after 18 years with the tile retailer once a replacement has been appointed. The group said the total number of active registered traders within its Topps Tiles business was up 7 per cent annually at 141,000, with the number of new traders registering in the quarter more than doubling year-on-year, both in store and online.
Topps, which has just opened a new 140,000sqft warehouse in Northampton as a base for its Pro Tiler Tools unit, said trade growth had also been supported by 'developments in the Topps Tiles brand's digital channels, clearer pricing and excellent stock availability'.
Topps has been making progress on boosting its trade offering. The group also highlighted progress on its 'mission 365' plan, which also targets an improvement in the 'trade digital experience', an expansion into new coverings categories, and increasing its B2B sales focus.
