The Entertainer reports strong first half
The retailer's gross margin was up on last year despite cost price challenges. Year to date profit is currently 5% ahead of plan.
The Entertainer said it has been a ”great” year so far as it benefits from the popularity of playground crazes such as Finger Spinners, Fidget Cubes and LOL dolls. It has also enjoyed strong growth in its own label toy offering.
Gary Grant, founder and managing director of The Entertainer, said: “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, the company plans to open a further nine stores in its third and fourth quarters with more expected in the new year.
Founded in 1981 in Amersham by Grant and his wife Catherine, The Entertainer is the largest independent toy retailer in the UK with a total of 139 stores.
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