The Entertainer’s store expansion & finger spinners boosts sales

177
The Entertainer

Toy retailer The Entertainer recorded an uplift in sales in its half-year report, attributing it to growth in its own-label products and significant store expansion.

The chain posted a six per cent rise in sales during the first half of the year, while like-for-like sales plateaued. Online sales were also “extremely strong”.

In terms of profits, The Entertainer said it was five per cent ahead of expectations, with the gross margin increasing in the face of cost pressures.

It said that growth in its own-label products as well as “playground crazes” such as finger spinners and fidget cubes helped boost its sales to date.

The retailer also opened six new bricks-and-mortar stores in its first half, with another nine planned for the rest of the fiscal year.

There are also plans to further develop its ecommerce division.

“We‘re delighted with this year‘s performance so far, particularly having had to face into increased promotional pressure in the category and exchange rate fluctuations,” The Entertainer founder and managing director Gary Grant said.

“We have managed to hold firm to our plans and with a number of key movie and range releases still to come, we expect a positive effect on both our sales and margin for the remainder of the year.”

Click here to sign up to Retail Gazette‘s free daily email newsletter