Topps Tiles sales rise
Published: 13 January, 2011
LEICESTER: Topps Tiles bucked the trend of poor sales over Christmas reporting a 2.2% rise in like-for-like transactions over the period.
Barry Bester, chief executive of the tile retailer, said: "We experienced some disruption during December from the extreme weather conditions and I feel the business has responded well during a testing period. Against this context I am particularly satisfied with the performance over the period as a whole."
In a note to clients, Goldman Sachs said that the sales – which covered the 13 weeks from October 2 – were in line with its forecasts. Peel Hunt said that it "takes comfort" from the "robust" start to Topps Tiles' year.
The group is currently trading from 312 stores and said that it plans to open 10 new stores in its current financial year.
Mr Bester said: "Our trading performance across the first 13 weeks of the financial year has been positive, with total revenues increasing by 1.8%."
The shares rose 11/4 to 791/2p.