Topps Tiles boss Rob Parker to retire after company returns to sales growth

Rob Parker has announced he is leaving the business less than two months after its biggest investor called for a leadership review following a slump in sales

Topps Tiles' boss, Rob Parker, has announced his retirement after 18 years with the company, just as it reports a return to sales growth.

This comes less than two months after the company's largest investor called for a leadership review. Despite this, Mr Parker is expected to remain in his role until later this year, once a successor has been appointed.

The call for a leadership review came from top investor MS Galleon, which owns a 30% stake in Topps Tiles, following a slump in sales and what they described as a series of "strategic missteps" by management.

However, Wednesday's trading update revealed that the company had bounced back, with sales in the three months to December 28 rising by 4.6% compared to the same period last year. The UK's largest tile retailer, Topps Tiles, employs thousands across its 300 stores and also owns Pro Tiler, a tiling supplies business.

The recent sales growth was largely driven by a significant increase of 12.9% over the shorter Christmas period, from Black Friday to Boxing Day. Mr Parker attributed part of this sales growth to the company's efforts to expand its online operation, countering MS Galleon's previous criticism that Topps Tiles is "predominantly a bricks and mortar business with a poorly optimised store portfolio".

The investor also lambasted Topps’ recent acquisition of CTD Tiles, branding the move as "unequivocally irrational" and "highly detrimental to the interest of the company". Topps Tiles snapped up CTD’s brand, 30 stores, some of its stock and two distribution sites out of administration in August 2024.

The Competition and Markets Authority is currently probing the deal, with a preliminary ruling expected on February 17. Mr Parker joined Topps in 2007 and served as its chief financial officer for 12 years before ascending to the top job in 2019.

Chairman Paul Forman praised the chief executive for his "an enormous contribution to the development and success of the business over the last 18 years". He further noted that Mr Parker "led the group through a particularly volatile period for the UK economy, including the Covid pandemic".