Tile retailer’s performance dips

Leicestershire’s Topps Tiles has posted a trading update for the 26 weeks ended on March 30, revealing results that fall short of the previous year’s performance.

Total sales for the group in the first half of the year were £122.6m, which is 5.9% lower compared to the same period last year.

There was less demand in the domestic repair, maintenance, and improvement sector in 2024, especially for larger projects, leading to fewer people visiting Topps Tiles stores, particularly among homeowners.

Topps Tiles also saw an 11.3% decrease in sales compared to last year, mainly due to fewer customers and sales volume and net profits were affected by lower sales volume, increased operating costs, and other operational challenges.

The firm’sonline businesses, including Pro Tiler and Tile Warehouse, continued to perform well, achieving a 38.3% increase in sales compared to the previous year.

Meanwhile, the acquisition of the remaining 40% shareholding in Pro Tiler is nearing completion, with the co-founders set to remain with the business as it expands.