REG - Topps Tiles - Q1 Trading Update

Topps TilesAnnouncement

Wed 07:00

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RNS Number : 8843N  Topps Tiles PLC  07 January 2026

7 January 2026

Topps Tiles Plc

Q1 Trading Update

Continued solid trading with fifth consecutive quarter of like-for-like growth
in Topps Tiles

Topps Tiles Plc ("Topps Group", or the "Group"), the UK's leading tile
specialist, announces a trading update for the 13-week period ended 27
December 2025.

Following record revenues in the 2025 financial year, the Group is pleased to
announce revenue(1) excluding CTD(2) in the first quarter of the 2026
financial year continued to deliver solid growth of +3.7% year-on-year,
outperforming the market(3).

Revenues in the Topps Tiles brand delivered a robust performance growing by
+2.0%(4) on a like-for-like basis, supported by continued strong performance
in trade (+3.7% YoY), alongside growth in its "Mission 365" strategic category
extensions.  Q1 represents the fifth consecutive quarter of like-for-like
growth for the Topps Tiles brand, helping to mitigate the impact of the
continued cost inflationary environment.

Including CTD, Group sales grew by +1.6%, noting that the CTD operation is now
smaller than it was in the prior year, trading from 22 stores versus 31 last
year. The fourth and final CMA disposal store was completed in December 2025,
and this now brings the CMA process to a conclusion. The remaining CTD stores
have delivered consistent like-for-like growth(5) of +4.7% in the period, and
performance across the quarter provides a solid foundation to support the
Group's plan to deliver a profit in CTD in the 2026 financial year.

The Group continues to make excellent progress with the "Mission 365" digital
journey with Group online revenue (inc. CTD) at 19.7% of total Group revenue
for Q1, +70bps versus full financial year 2025 and +270bps versus Q1 last
year. The Topps Tiles Bloomreach Customer Engagement Platform is now fully
integrated and successfully driving customer engagement and reducing churn.
The Topps Tiles Trade App, which will be a key driver of loyalty and lifetime
value, is on track for launch in Q3 of financial year 2026.

Following the announcement in early December of the acquisition of the Fired
Earth brand, website and stock, the Group worked to establish a fully
operational supply chain and transactional website by 16(th) December 2025. As
a result, the Group has been able to fulfil strong demand from customer orders
and looks forward to optimising the Fired Earth opportunity in 2026 and
beyond.

Following a seamless transition process, the Group's new CEO, Alex Jensen, has
now taken full responsibility of the business as of 8(th) December 2025, with
the previous longstanding CEO, Rob Parker, now retiring from the company.

Alex Jensen, Topps Group CEO, said: "The Group continued to deliver growth in
Q1 across each of our existing businesses and delivered like-for-like growth
in CTD stores, whilst achieving some significant milestones, including
appointing an interim and permanent CFO, closing the CMA process with CTD and
acquiring Fired Earth assets.  We are confident of delivering another year of
progress both strategically and financially".

 

Notes:

1 Group revenue and revenue growth for the 2026 financial year are stated
excluding VAT and are before year end accounting adjustments including revenue
recognition, loyalty scheme accounting and customer returns provisions.

2 On 19 August 2024, the Group acquired the brand and certain assets from CTD
Tiles Limited. The business currently trades from 22 stores, down from 31 in
the prior year due to commercial property decisions and the requirement to
dispose of four stores following the CMA investigation.

3 Market performance as defined by Barclays "UK Consumer Spend Report" for
Home Improvements and DIY tracking at -0.5% for October 2025 and -3.0% for
November 2025 (December report not published at time of writing this Trading
Statement).

4 Topps Tiles like-for-like revenue is defined as online revenue generated
through Topps Tiles' digital channels, and revenue from Topps Tiles stores
that have been trading for more than 52 weeks, compared to the same period the
previous year.

5 CTD store like-for-like revenue is defined as revenue generated through CTD
stores that have been trading for more than 52 weeks, compared to the same
period the previous year.

 

For further information please contact:

 Topps Tiles Plc
 Alex Jensen, CEO            0116 282 8000

 Rob Swales, Interim CFO
 Citigate Dewe Rogerson    +44 (0) 20 7638 9571
 Angharad Couch              toppstiles@cdrconsultancy.com

 

Notes to Editors

Topps Tiles Plc is the UK's largest specialist supplier of tiles and
associated products, targeting the UK domestic, commercial and housebuilder
markets and serving homeowners, trade customers, contractors, architects and
designers from 296 nationwide Topps Tiles stores, a commercial showroom in
London, the CTD store estate (22 stores) and ten customer-facing websites:
www.toppstiles.co.uk (http://www.toppstiles.co.uk) , www.parkside.co.uk
(http://www.parkside.co.uk) , www.protilertools.co.uk
(http://www.protilertools.co.uk) , www.northantstools.co.uk
(http://www.northantstools.co.uk) , www.premiumtiletrim.co.uk
(http://www.premiumtiletrim.co.uk) , www.warmfloorstore.co.uk
(http://www.warmfloorstore.co.uk) www.flooringmaterials.co.uk
(http://www.flooringmaterials.co.uk) ,  www.tilewarehouse.co.uk
(http://www.tilewarehouse.co.uk) , www.ctdtiles.co.uk
(http://www.ctdtiles.co.uk) and www.firedearth.com (http://www.firedearth.com)
.

Since opening its first store in 1963, Topps has maintained a simple operating
philosophy ‐ inspiring customers with unrivalled product choice and
providing exceptional levels of customer service.  For further information on
the Group, please visit www.toppsgroup.com (http://www.toppsgroup.com)

 

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