Retailer anticipates this to continue into peak trade season.
The company has posted strong total company sales which are up 6% year on year, with like for like sales being broadly flat. Gross margin is also up on last year despite cost price challenges with year to date profit currently 5% ahead of plan, putting the company in good stead for the second half of the year.
It has been a great year for so far for The Entertainer, capitalising on playground crazes, such as Finger Spinners, Fidget Cubes and LOL dolls. It has also enjoyed strong growth in its own label toy offering.
The performance of TheToyShop.com is also strong, and with a number of website developments in the pipeline, it remains optimistic for the rest of 2017.
Gary Grant, founder and managing director of The Entertainer, commented: “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. 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.”
Having opened six stores so far this year, its expansion plans continue with a further nine stores already confirmed to open in Q3 and Q4, with more expected in the New Year.