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Card Factory to power on with expansion despite profit dip

Tuesday 28 March 2017 - Posted by Elias Jahshan

Card Factory has reported lower high street footfall and a dip in profits in its full-year report, but this is not preventing the retailer from opening new shops. For the retailer’s fiscal year to January 28, pre-tax profits dipped by 1.1 per cent to £82.8 million, while total...

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Foyles sees profits increase 1000%

Friday 24 March 2017 - Posted by Ben Stevens

Foyles has announced a 10-fold increase in its profits last year, marking the second consecutive year of profitable trading and a successful turnaround. The bookseller saw turnover rise to 2.75 per cent to £25 million in the 12 months to June 30, 2016. Meanwhile pre-tax profit...

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Lego records its highest revenues ever

Friday 10 March 2017 - Posted by Elias Jahshan

Lego has posted the highest revenues in its 85-year history despite growth and profit slowing down to more “sustainable” levels. Sales in 2016 reached a new high of 37.9 billion Danish kroner (£4.4 billion), a six per cent increase on the previous year. But this growth marked ...

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Subscription services outpace ownership models for the first time

Tuesday 07 March 2017 - Posted by Ben Stevens

UK consumers now spend nearly 80 per cent of their entertainment budgets digitally, as online sales continue to dominate the industry. New figures from the Entertainment Retailers Association's (ERA) 2017 yearbook show that physical sales in 2016 counted for just 22.3 per cent...

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Nintendo Switch prices hit £700 on eBay as retail stocks are depleted

Friday 03 March 2017 - Posted by Ben Stevens

Nintendo’s hotly-anticipated Switch has endured launch chaos today, as all major retailers exhaust their stocks. Following controversy this week in which many Game pre-orders were cancelled last minute, the video game retailer has also completely sold out in-store. Furthermore...

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Gear4Music sales hit the high note

Friday 03 March 2017 - Posted by Elias Jahshan

Specialist music retailer Gear4Music has reported a 58 per cent surge in annual like-for-like sales in its preliminary full-year report, spurred on by a 49 per cent jump in active customers. The firm’s year-on-year like-for-likes rose to £56.1 million in the 12 months to Febru...

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Hamleys magic coming to Nigeria with new Lagos store

Friday 03 February 2017 - Posted by Elias Jahshan

British toy retailer Hamleys has just announced it would open its first store in Lagos, Nigeria. The heritage brand’s new store will open in the summer of 2017, and will be the latest addition to to Hamley’s international estate of 107 stores across 24 countries such as China,...

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Waterstones records first annual profit in 8 years

Thursday 02 February 2017 - Posted by Elias Jahshan

Waterstones has achieved its first annual profit since the 2008 financial crisis, according to its full-year trading update. The bookseller chain recorded a £9.8 million pre-tax profit in the year to April 30, 2016, a contrast to the previous year when it posted a £4.5 million...

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HMV to close iconic Oxford Street flagship

Thursday 02 February 2017 - Posted by Ben Stevens

London’s Oxford Street will lose its iconic HVM flagship store, following a 96-year residence. Landlords of the building are reported to have commenced negotiations to surrender the lease through property agent Savills, according to Property Week. The famous high street staple...

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UK toy retail market now worth £3.5bn

Wednesday 25 January 2017 - Posted by Elias Jahshan

The UK toy retail market is now worth a record-breaking £3.5 billion, according to new figures. Research from the NPD Group and the British Toy and Hobby Association indicate that the UK toy sector saw a 6.3 per cent rise in sales last year, bringing its total value to more th...