Iconic toy retailer Hamleys has bounced back to black in its latest full-year financial results after recording a £4.1 million loss in 2009.
The full year to March 31st 2010 saw total sales and like-for-like sales at Hamleys increase by five per cent, meaning profit before tax was £100,000.
Rolling out of franchise stores, the success of its new Glasgow outlet and the resurgence of its flagship store in Regent Street London were all highlighted as factors in these phoenix like results.
Gudjon Reynisson, CEO of Hamleys, said: “We are extremely pleased with the group’s performance, particularly considering the difficult retail environment.
“Hamleys has a strong brand identity and we are building its reputation internationally for providing a retail experience for both children and adults in a unique and magical environment.”
New franchise stores in Dubai and Mumbai, India opened in March and April respectively, and highlight the retailer’s increasing focus on international sales.
Reynisson added: “We plan to capitalise upon these good results by expanding and developing our franchises into new markets with strong retail partners. We are confident that the business is now positioned for the next phase of its development.”
Hamleys is 250 years old as a company this year, spreading from its Regent Street origins to now have stores in Ireland, Denmark, Jordan, Dubai and India.