Topps Tiles sales slide through 2021 lockdown

Tile specialist Topps Tiles has posted a 17.% drop in revenue for the second quarter of 2021, blaming the sales slide on the third lockdown.

For the 26 weeks up to March 27, total revenues were £103.6m, up 2%. The first quarter grew 19.9%, then sales dropped by 17.3%.

tops tiles

Rob Parker, CEO, said: “Our revenues for the first half reflect a very strong first quarter followed by a period over the majority of the second quarter when sales, particularly to homeowners, were significantly impacted by the trading restrictions imposed on our stores during the third national lockdown.

“The group adapted to the changed environment swiftly and effectively, producing a resilient performance in the circumstances.

“We are looking forward to the lifting of lockdown restrictions in April and are concentrating on being well prepared for the return of all customers to our stores.

“We have a strong balance sheet, are debt-free, and are well positioned for growth this financial year as we move towards our goal of ‘1 in 5 by 2025’.”

About Fiona Russell-Horne

Group Managing Editor across the BMJ portfolio.

Check Also

d309a4e9 d652 44dd 980b feb72123366e

MKM to open 122 and 123rd branches next week

MKM Building Supplies will open its 122nd branch in London Colney on October 2. Situated …