Topps returns to sales growth; CEO to exit

Tile retailer Topps Tiles has reported a return to gross sales progress in addition to offering an replace on its CEO succession.

In accordance with its newest buying and selling replace for the 13-week interval ended 28 December 2024, group gross sales had been 4.6% larger year-on-year excluding CTD, with gross sales in the newest five-week interval up 12.9% year-on-year, supported by the timing of the interval finish. 

Like-for-like gross sales in Topps Tiles had been up 3.5% year-on-year within the interval and up 12.5% in the newest five-week interval. Gross sales within the On-line Pure Play a part of the Group had been strongly optimistic.

“The gross sales enchancment within the first quarter was pushed by the continuing strengthening of the Group’s commerce supply, with sturdy progress in commerce revenues at each Topps Tiles and Professional Tiler Instruments,” the group stated. “In Topps Tiles, the entire variety of lively registered merchants on the finish of the interval was up 7% yr on yr to 141,000, with the variety of new merchants registering within the quarter greater than doubling year-on-year, each in retailer and on-line.

“Commerce progress has been supported by developments within the Topps Tiles model’s digital channels, clearer pricing and glorious inventory availability, resulting in complete year-on-year commerce gross sales progress in Topps Tiles over the quarter of 13.5%. The sturdy gross sales progress in Professional Tiler Instruments continues, up 20% year-on-year within the first quarter.”

Rob Parker, Chief Govt, added: “We’re happy to see the Group return to gross sales progress within the first quarter of the brand new monetary yr, supported by our sturdy commerce supply and continued strategic progress, significantly with our digital and omnichannel progress initiatives. While it’s early within the monetary yr and macroeconomic indicators stay blended, we’re happy that our progress technique is delivering sturdy outcomes, which leaves us properly positioned to ship our aim of Mission 365.”

Moreover, Topps has introduced that following an prolonged interval of consideration, Rob Parker, CEO, has notified the Board of his intention to retire from the enterprise after 18 years with the Group. Rob joined the Group in 2007 and served as CFO for 12 years earlier than turning into CEO in 2019.

Topps added that it has activated its succession plan and, with the assist of exterior consultants, has commenced the search course of for a brand new Chief Govt Officer. Rob will stay in submit till an acceptable successor has been appointed, to make sure an orderly switch of obligations, which is anticipated to be in direction of the tip of 2025.

Paul Forman, Chairman, stated: “Rob has made an unlimited contribution to the event and success of the enterprise during the last 18 years.  Throughout his time as CEO, he has overseen a interval of serious diversification and progress of the enterprise, and has led the Group via a very unstable interval for the UK economic system, together with the Covid pandemic. 

“He’ll go away with the Group well-positioned and we’re grateful for his persevering with management and dedication whereas we full a managed transition to his successor.  On a private observe, I want to thank Rob for the assist, professionalism and perception he has given me as a newly appointed Chair.”