The Entertainer reports profit uplift
Toy retailer The Entertainer has reported a 37% increase in full year profit despite challenges in its market.
In the year to 27 January, total sales rose by 6.8% compared to the same period in the previous year, although like-for-like sales were broadly flat.
Online sales were up 30% as use of the retailer’s 30-minute click and collect service surged by 32% in the year.
Gary Grant, founder and managing director of The Entertainer, said: “Considering the well documented challenges that the high street and the toy industry faced in the last year, we are delighted with these results. TheToyShop.com has experienced strong growth as more customers choose our online channel. Addo Play, our own brand toy range, also enjoyed strong growth over the last 12-month period, placing them as our fourth biggest supplier. Our international store growth also contributed to what turned out to be a stellar year.”
Grant said the company has ambitious growth plans and is looking at new UK and European acquisitions as well as a replatforming of its online business.
Following the year's results, The Entertainer has declared a profit share to staff totalling £1.9 million.
Grant added: “This is the first year of our company-wide profit-share scheme and yesterday would be one of my highlights of the last 37 years; being able to announce a record profit-share for a record year’s trading, to all of our employees.“
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