The Entertainer has posted runaway profit growth over the last year as it continues to expand its estate in the absence of Toys R Us.
In the year to January 2018 the toy specialist saw total sales across all channels jump 7.4 per cent, with its newly revamped website lifting largely stagnant in-store like-for-like sales.
This yielded a healthy profit increase of 38 per cent, leading it to dish out profit-related bonuses of £1.9 million alongside over £2 million in charitable donations for the first time.
Currently the retailer trades from 148 stores across the UK, with another 12 stores planned for the coming year alongside 10 store upgrades, including its Westfield London flagship.
Last month also saw the introduction of 59 Matalan concessions, following a successful trial last year.
“I’m delighted with these results and credit our continued success to a combination of tight cost control, the strength of our own label offering, our skill at capitalising on trends such as L.O.L. Dolls and our enthusiastic, loyal staff,” founder and chairman Gary Grant said.
“Looking at current trading, I’m encouraged that at our half year 2018/19 total sales increased by 25% with LFL store sales growth of 12% and, following the successful re-platform of our website, online sales are trading 21% up on last year. Our growth agenda will continue, and we will be looking at every opportunity to expand both nationally and internationally”.
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3 Comments. Leave new
A firm with integrity whose commitment to the owner’s christian faith and smart business practice has put many larger firms (and especially banks !) to shame. imo they deserve their success.
What on earth does the owners Christian faith have to do with anything Martin?
Pitched to them a few years ago. Very greedy terms as I recall. A bit sharp…Nothing unethical but not much brotherly love …