The Entertainer hails 31% increase in full year profit
Toy retailer The Entertainer has seen a 31% increase in its annual profit after sales rose by 21.7%.
In the 12 month period to 28 January, like-for-like store sales climbed by 12.3% while online sales saw growth of 38%.
The uplifts meant that the retailer had a £3 million pot for profit-related bonuses for employees. In addition, the company’s policy of tithing profits resulted in donations of £1.6 million. Together with other schemes such as Payroll Giving, ‘Pennies’ and carrier bag donations, its total charitable donations reached £2.7 million.
The Entertainer opened 16 new UK stores in the period to take its total to 163. It also expanded internationally by acquiring Poly, a chain of 55 toy shops in Spain.
Gary Grant, founder and executive chairman of The Entertainer, said: “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. 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.”
Earlier this month, The Entertainer announced that it had acquired the Early Learning Centre business from Mothercare.
Grant added: “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.”
