Covid-19: Topps Tiles grows online sales by 139% during lockdown

Topps Tiles has announced a 139% growth in online sales in the 13 weeks ending 27 June 2020, a quarter dominated by the Covid-19 pandemic. The tile specialist also revealed in-store sales exceeded expectations as physical outlets began reopening towards the end of this period.

In April, when all Topps Tiles stores were closed, average sales per week was just £0.8 million, but this rose to £3.9 million in the final week of June, when all its shops had resumed trading. Overall, year-on-year revenue fell by 53% over this quarter.

The retailer said that the accelerated pace of store reopenings, alongside better-than-expected customer demand, led to a healthier performance than it had initially predicted at the start of the Covid-19 crisis. The majority of its stores reopened from the end of May with enhanced health and safety measures to protect staff and customers. It added that social distancing restrictions has not significantly constrained trade in its reopened stores.

In May, Topps Tiles stated that it had invested in its online platform to help it navigate the crisis, with digital sales increasing by three-times their pre-crisis level. It is likely to maintain a stronger focus on its eCommerce model going forward, with the shift to online shopping set to continue beyond the crisis.

Rob Parker, chief executive at Topps Tiles said: "I am pleased with the resilience shown by the business through this period and I would like to thank colleagues across the Group for their hard work and dedication which ensured that, by the end of June, all Topps stores were back open and serving our customers safely.

"The group has demonstrated its resilience, with revenues ahead of our expectations, and we have strengthened our financial liquidity through the sale and leaseback of our central warehouse and head office facility. Looking ahead, from our market leading position and with a firm financial footing, Topps is well-positioned as the economy begins to recover."  

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