Topps Tiles ‘well-positioned’ for post-lockdown growth despite pre-COVID sales decline

National tile specialist Topps Tiles has announced it has ‘sufficient’ resources to grow after lockdown despite taking a hit on sales before the COVID-19 disruption.

The firm saw a sales decline of 6.1 per cent for the 26 weeks ending March 28, with a pre-tax profit of £1.2m - down from £8m in the previous year.

After re-launching its website in response to the coronavirus crisis and subsequent store closures, Topps Tiles has seen online revenues increase threefold compared with pre-COVID-19 trading.

The firm has also begun trials of new physical operating procedures with 250 of its stores offering a click-and-collect service, and 130 allowing controlled customer entry adhering to social distancing guidelines.

Rob Parker, Topps Tiles chief executive, commented: “COVID-19 has created a complex and extremely challenging trading environment and I am pleased by the way the Group has responded to this crisis so far.

“The strong growth of our online business, the development of a collection-only store model, and the encouraging initial customer response to our phased programme of store re-openings, all demonstrate our resilience in the face of the COVID-19 threat.

“Having taken steps to strengthen our financial liquidity over recent weeks we believe our resources are sufficient to address the current challenge. Looking further ahead, as the UK’s leading tile specialist, Topps remains well-positioned as the economy begins to recover.”