1st Jul 2015 06:45
LONDON (Alliance News) - Topps Tiles PLC Wednesday said that like-for-like sales grew in the third quarter of its financial year, although growth was slower than in the same period the year before.
The bathroom and kitchen tile maker said that like-for-like revenue rose by 5.9% in the 13 weeks to June 27, although this was slower than the 6.3% growth it reported in the same period the prior year.
Topps Tiles said that it continues to make good progress with its strategy of "out-specialising the specialist" by opening a new 'lab' store in Worcester which trials new merchandising treatments, launching 14 new ranges, and opening two new core stores and six boutiques.
Topps Tiles currently trades from 346 stores and expects to finish the year with around 348, it said, adding that management remains "comfortable" with current market expectations for the year as a whole.
"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," Chief Executive Matthew Williams said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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