The Entertainer celebrates 38% profit uplift
Toy retailer The Entertainer saw its profits increase by 38% year-on-year in the 12 months to January 2018.
Total sales rose by 7.4% although like-for-like sales were broadly flat. Meanwhile online sales increased by 28%.
During the period The Entertainer paid out profit-related bonuses of £1.9 million to its staff. In addition, its policy of tithing profits resulted in donations of £1.3 million and schemes such as Payroll Giving, ‘Pennies’ and carrier bag donations meant that the retailer’s total charitable donations exceeded £2 million for the first time.
Gary Grant, founder and chairman of The Entertainer, said: “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 more recent trading, Grant said first half total sales in the new the new financial climbed by 25% year-on-year while like-for-like store sales rose by 12%.
During the current financial year, The Entertainer will open a further 12 new stores and refit 10 existing shops. This will include the relaunch of its flagship store at the Westfield London shopping centre.
Grant added: “Our growth agenda will continue, and we will be looking at every opportunity to expand both nationally and internationally.”
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