Topps Tiles has attributed its omnichannel strategy to its record first half revenues.
In the 26 weeks to 1 April. the retailer posted revenue of £130.5mn, up by 9.5% compared with the same period last year.
Online sales climbed £10.1mn, up from just £1.1m for the same period last year.
Approximately £9mn of revenue growth related to the acquisition of Pro Tiler Tools and the launch of Tile Warehouse in 2022, the home and DIY retailer revealed.
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Like-for-like sales increased by 3.5% in the second quarter, while sales were up 4.3% in the first half.
The retailer also claimed that it remains “strongly cash generative” with the balance sheet, cash flows and profitability remaining in line with its expectations.
“Our performance across the first half has been good, with a record period for group revenues, supported by like-for-like sales growth in Topps Tiles of 4.3% and an excellent post-acquisition performance from Pro Tiler Tools,” Topps Tiles CEO Rob Parker said.
“The economic outlook remains uncertain but early signs of easing supply chain pressures, allied to the group’s strong balance sheet, world class customer service, specialist expertise and growth strategy give us confidence in our ability to drive value for all stakeholders over the medium term.”
Topps Tiles is ranked as a Top150 retailer in RXUK’s 2023 Top500 report.
Image credit: Shutterstock
The post Topps Tiles credits omnichannel strategy to record sales appeared first on Internet Retailing.
via https://AiUpNow.com April 5, 2023 at 03:46AM by Jasdip Sensi, Khareem Sudlow,
