Topps Tiles confident despite Brexit result

Topps Tiles has shrugged off Brexit fears and posted solid third-quarter sales growth, saying it is well-placed to outperform the market.

Topps Tiles: confident despite Brexit shock. Picture: PA
Topps Tiles: confident despite Brexit shock. Picture: PA

The tiling and flooring retailer, which has 17 outlets in Scotland, said like-for-like sales to 2 July grew 6.2 per cent in the period as a programme to revamp its stores and ranges continues to be a success.

Chief executive Matthew Williams highlighted “initiatives to extend the appeal of the Topps brand continuing to attract new customers”.

He said: “While it is currently too early to ascertain the implications of the result of the UK referendum, we remain confident in the longer term outlook for our business and in our ability to outperform the market.”

Retail analyst Nick Bubb said underlying like-for-like sales were up 5.6 per cent, but “this is still good, given the attractions of Euro 2016 for many of Topps’ core customers, even if the weather has been helpful for ‘indoor’ work like tiling”.