“We’re delighted with these results and credit our success to our enthusiastic, loyal staff”.
Toy retailer The Entertainer has today announced a 31% increase in YOY profits.
The retailer delivered a total YOY sales increase of 21.7% for the 12-month period ending January 28, 2019 with LFL store sales growing by 12.3%.
TheToyShop.com – The Entertainer’s online platform – reported a 38% sales increase for the same period.
The Entertainer also announced profit-related bonuses of £3m to its employees and the company’s policy of tithing profits resulted in donations of £1.6m. Along with other schemes such as Payroll Giving, ‘Pennies’ and carrier bag donations, the total charitable donations hit £2.7m.
During the period, The Entertainer added 16 stores to its UK portfolio – taking the total to 163. It also grew its international footprint with the acquisition of Poly, a chain of 55 toy shops in Spain, and continued to grow the curated wholesale business through its partnership with Matalan which saw a further 54 toy departments opened, taking the total to 63.
Just last week, The Entertainer confirmed the acquisition of Early Learning Centre from Mothercare.
“We’re delighted with these results and credit our success to our enthusiastic, loyal staff, who we’re delighted to be rewarding with a record profit related bonus,” said founder and executive chairman, Gary Grant. “2019 will see us continue to keep a tight control on costs, further strengthen our own label product offering through our Addo brand, ensure we are first to market on key trends and of course offer excellent value for money to our customers.
“Our ambitious growth agenda will continue after our exciting start to the year with the acquisition of ELC and we will continue to look at every opportunity to expand our presence both nationally and internationally.”
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