// The Entertainer posts 31% full-year profit growth
// Sales up 21.7%, boosted by 12.3% uptick in like-for-likes
// Online sales up 38%
The Entertainer has posted double-digit growth in profit, sales and like-for-likes as it continues to expand its store estate.
For its financial year ending January 28, the toy retailer recorded a 31 per cent year-on-year surge in profits.
This was boosted by a 21.7 per cent year-on-year sales increase while like-for-likes jumped 12.3 per cent year-on-year.
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Meanwhile, The Entertainer’s online platform reported a 38 per cent year-on-year sales increase.
Exact monetary figures were not disclosed.
Nonetheless, the retailer announced profit-related bonuses of £3 million to its employees along with total donations of £2.7 million.
During the year, the toy chain added 16 stores to its UK portfolio, taking its total to 163.
It also grew its international footprint with the acquisition of Poly, a chain of 55 toy shops in Spain, and continued to grow the curated wholesale business through a partnership with Matalan which saw a further 54 toy departments opened, taking the total to 63.
This is in addition to The Entertainer recently announcing that it had acquired the Early Learning Centre, which operates within 80 Mothercare stores in the UK as well as 400 stores internationally via franchise partners and online.
The acquisition also included its portfolio of British toy brands such as Happyland.
“We’re delighted with these results and credit our success to our enthusiastic, loyal staff, who we’re delighted to be rewarding with a record profit related bonus,” The Entertainer executive chairman Gary Grant said.
“2019 will see us continue to keep a tight control on costs, further strengthen our own label product offering through our Addo brand, ensure we are first to market on key trends and of course offer excellent value for money to our customers.
“Our ambitious growth agenda will continue after our exciting start to the year with the acquisition of ELC and we will continue to look at every opportunity to expand our presence both nationally and internationally.”
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