Topps Tiles has announced that CEO Rob Parker will retire from the business after 18 years as sales returned to growth in the early weeks of the new financial year.
Parker joined the retailer in 2007 and served as CFO for 12 years before becoming CEO in 2019.
He will retain his role until a successor has been appointed, which is expected to be towards the end of 2025.
Paul Forman, chairman, said: “Rob has made an enormous contribution to the development and success of the business over the last 18 years. During his time as CEO, he has overseen a period of significant diversification and growth of the business, and has led the group through a particularly volatile period for the UK economy, including the Covid pandemic.
“He will leave with the group well-positioned and we are grateful for his continuing leadership and commitment while we complete a managed transition to his successor. On a personal note, I would like to thank Rob for the support, professionalism and insight he has given me as a newly appointed chair.”
Parker’s departure comes as the retailer announced that group sales increased 4.6% YoY in the 13 weeks ended 28 December and 12.9% YoY in the most recent five-week period. Like-for-like sales also increased 3.5% YoY in the quarter and 12.5% in the five-week period.
The sales improvement in the quarter was driven by the strengthening of the retailer’s offer, with growth in trade revenues both at both Topps Tiles and Pro Tiler Tools. Growth has been supported by developments in the Topps Tiles brand’s digital channels, clearer pricing and stock availability, leading to a 13.5% growth. Pro Tiler Tools saw a 20% YoY growth in Q1.
During the period, the group also opened a new 140,000 sq ft warehouse at Pro Logis Park in Northampton, which has become the new base for Pro Tiler Tools.
Commenting on the results, Parker said: “We are pleased to see the group return to sales growth in the first quarter of the new financial year, supported by our strong trade offer and continued strategic progress, particularly with our digital and omnichannel growth initiatives.
“Whilst it is early in the financial year and macroeconomic indicators remain fixed, we are pleased that our growth strategy is delivering strong results, which leaves us well positioned to deliver our goal of Mission 365.”
