Partly Cloudy

Partly Cloudy

max temp: 14°C

min temp: 8°C

ESTD 1874 Search

Retail: Strong end to 2013 for Topps Tiles and Dunelm

10:18 07 January 2014

Topps Tiles said today that like-for-like sales rose9.3% in the 13 weeks to the end of 2013.

Topps Tiles said today that like-for-like sales rose9.3% in the 13 weeks to the end of 2013.

Archant

More signs of a recovery in household spending emerged today after Topps Tiles reported a big rise in sales and homewares specialist Dunelm rebounded from a difficult summer.

shares

Topps said a strong December helped like-for-like sales rise 9.3% in the 13 weeks to the end of the year, while Dunelm lifted sales by 2.9% over the same period after a fall of 5.3% in the heatwave summer.

Analysts believe Topps is well placed to benefit from a stronger housing market though the company said it remained cautious about whether it can maintain the level of performance over the year.

Its first quarter figures come against flat sales in the previous quarter, and compare with a 1.6% rise in the same period a year before.

Chief executive Matthew Williams said: “Topps traded strongly over the first quarter, with an acceleration in like-for-like sales growth over the final month of the period.

“Whilst we are encouraged by this and remain optimistic about the prospects for 2014, at this early stage of the year we remain cautious of projecting forward this level of performance.”

The group trades from 328 stores. Analysts at N+1 Singer said: “Topps should benefit from an improving housing market.”

Dunelm suffered after a poor summer period when sales dropped 5.3% on a like-for-like basis.

A first-ever TV advertising campaign helped second quarter trading, the group said, while the opening of a new delivery centre helped internet business to progress. But sales were still 0.9% down over the half.

Chief executive Nick Wharton said: “Dunelm traded robustly during this key period with our trusted ‘every day low price’ positioning retaining a strong appeal for customers.”

He said the board remained confident in long-term growth in profits. Half-year total sales were £356.3 million and pre-tax profits for the first half of the year are expected to be £61.5 million.

The group, founded as a market stall selling curtains in 1979, now has 131 superstores and aims to increase the number to 200.

shares

0 comments

Sainsbury's chief executive Mike Coupe.
Photo: Sainsbury's/PA Wire

The City will this week look for details of how Sainsbury’s plans to overhaul Argos when the supermarket posts its annual results next week, while trading at rival Morrisons and banking giant HSBC will also be in the spotlight.

Avanti supports CLIC Sargent charity

Networking group getting Muddy and wiggy for young cancer patients

Nick and Kim Hoare from Ivy Grange Farm near Halesworth who run a glamping site with five yurts.
Photo: Nick Butcher

A glamping firm hoping to banish memories of sodden sleeping bags and leaking tents is catching the eye of campers after an upmarket break.

Royal Bank of Scotland has reported a sharp increase in first quarter losses.

Royal Bank of Scotland has reported a first-quarter pre-tax loss of £968million, more than double last year’s figure of £446m.

Tom Boother is running from Land's End to John O'Groats in aid of EACH and Great Ormond Street. Marquis Suffolk is lending Tom a motorhome for him to sleep in during the challenge.

Tom’s charity challenge - running 816 miles from Land’s End to John O’Groats

Most read

Great Days Out

cover

Click here to view
the Great Days Out
supplement

View

Most commented

HOT JOBS

Show Job Lists

Streetlife

Newsletter Sign Up

Great British Life

Great British Life
MyDate24 MyPhotos24