03:00 Wed 03 Apr 2019
Topps Tiles - Trading Update
H1 Trading Update
Trading
Total revenues for the 26 week period were
Like-for-like revenues for the 26 week period increased by 0.2%.
Trading over the second quarter has improved from the levels reported in Q1, with like-for-like sales increasing by 1.8%. We estimate that the effect of weather conditions in the prior year and a later Easter this year has benefitted like-for-like sales over the quarter by around 1.6%. We believe that the continued execution of our strategy is enabling us to outperform the overall tile market.
Analysis of LFL sales by quarter
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Q1 |
Q2 |
First Half |
FY 2019 |
-1.4% |
+1.8% |
+0.2% |
FY 2018 |
+3.4% |
-2.2% |
+0.6% |
Strategic Progress
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Group - Our "Leading Product" strategy of differentiation and innovation at pace is more relevant and important today to our customers than it has ever been and is our key competitive advantage. Our iterative cycle of new product introduction has seen us launch 20 ranges so far this year, including a new porcelain tile range developed specifically for outdoor use. We are making good progress in leveraging our buying scale and advantage into commercial with over 70% of Parkside sales sourced through 'preferred' Group suppliers in the first half of the year. |
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Retail - our strategy of "Out Specialising |
· |
Commercial - our strategy of "Disrupt and Construct" is making good progress as we build our commercial business. Underlying commercial sales in the first half have grown by around three times year on year. During the first half we opened a flagship design studio in Clerkenwell, the heart of the |
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- Ends -
Enquiries:
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0116 282 8000 |
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020 7638 9571 |
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Note to editors
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.
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