TheToyShop.com, The Entertainer’s online platform, reported a 28% sales increase.
The Entertainer has today posted a 38% YOY profit increase for the 12-month period ending January 2018. The retailer, which now has 148 stores across the UK, delivered a total sales increase across all channels of 7.4% with LFL store sales being broadly flat.
In the same period, The Entertainer paid out profit-related bonuses of £1.9m to its employees. The company’s policy of tithing profits resulted in donations of £1.3m and along with other schemes such as Payroll Giving, ‘Pennies’ and carrier bag donations, its total charitable donations exceeded £2m for the first time.
Gary Grant, founder and chairman of The Entertainer, commented: “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.”
“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”.
Current year store growth will see a further 12 new stores open along with 10 existing stores being refitted/relocated, including the re-opening of its global flagship Westfield London store following a £750,000 make-over. A successful trial with Matalan during 2017 has also seen 59 in-store toy departments opened during September.
The board is very optimistic about the financial outcome for the current trading year.