StockMarketWire.com - Topps Tiles said like-for-like revenues for the first 13 weeks of the current financial year, also known as Q1, were up 4.4%, versus a rise of 5.2% at the same time a year ago.

Topps ended the quarter with a total of 340 stores.

STRATEGIC PROGRESS

Topps Tiles continued to make good progress with its strategy of "Out-Specialising the Specialists", with specific initiatives in the period including:

· Inspiration - during the period Topps completed its second "lab store" in Shoreditch, which features a range of new display & merchandising treatments. In addition, its industry-leading visualiser was further upgraded during the period with extra room settings and new personalised functionality.

· Range - during the quarter Topps launched 17 new ranges, with sales from lines launched in the last 12 months accounting for 8.9% of sales.

· Convenience - in the core estate the company opened two and closed two stores during the quarter. The Group is currently trading from 340 stores, including 13 Boutique stores (2014: 336 stores including five Boutique stores).

In addition, the Group has now concluded the two previously announced initiatives to streamline its business.

During the period seven Clearance stores have been closed and four remaining stores are currently being converted to our core format. In addition, all Group support functions have been consolidated into our main office in Leicester.






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