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.”
Never Miss a Retail Update!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.”
