Topps Tiles Shares Jump as Strong Trading Momentum Continues Through Q3

Topps Tiles (LON: TPT) shares jumped more than 10% on Wednesday after the company reported accelerating sales growth in the third quarter and reaffirmed confidence in its long-term strategy.

The tile specialist company said that adjusted sales rose 10.1% in the 13 weeks to 28 June, up from 4.1% growth in the first half of the year. Year-to-date sales are now up 6.1% compared with the same period in 2024.

Sales momentum is said to have improved across all business units, with the Topps Tiles brand delivering 7.3% like-for-like growth in the third quarter. 

TPT notes that trade sales outpaced those to homeowners, although the latter also showed signs of recovery.

“Stronger sales growth was underpinned by further increases in Topps Tiles' active trade customers, up 12% year-on-year to 150,000,” the company said. 

Online sales also grew, accounting for 21.9% of adjusted sales in Q3, up from 19.8% in the first half.

The group expects second-half gross margins to be “slightly higher” than in the first half, despite a challenging cost environment due to higher National Insurance and wage costs.

Topps Tiles also said its CTD business should reach breakeven by the fourth quarter, and it plans to pursue meaningful expansion in 2026.

At 37.6p, shares are still down around 4.8% year-to-date, but the stock has been given a boost following the latest update.