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Topps Tiles reports 5.9% rise in LFL sales in Q3

Topps Tiles Wimbledon Village

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."

Source : Topps Tiles Press Release
http://hsprod.investis.com/ir/tpt/ir.jsp?page=news-item&item=2120880620568576

01 July 2015

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