One of the UK’s two dominant toy retail chains, The Entertainer, has announced a 38% increase in profits during 2017.
In 2017 The Entertainer increased profits by 38% when compared to 2016. The chain, rivalled in size only by Smyths Toys, has 148 UK stores with plans to continue to expand globally. The sales increase was just 7.4%, Toy World reports.
Employees received £1.9 million in profit related bonuses during the period, with charitable donations from the company exceeding £2 million for the first time.
“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,” said Gary Grant, founder and chairman of The Entertainer.
“Looking at current trading, I’m encouraged that at our half year 2018/19 total sales increased by 25% with LFL store sales growth of 12% and, following the successful re-platform of our website, online sales are trading 21% up on last year. Our growth agenda will continue, and we will be looking at every opportunity to expand both nationally and internationally”.
In September, Grant said that 2018 would be a year of expansion for the chain.
After the closure of Toys R Us earlier this year, The Entertainer and Smyths are the two largest chain retailers in the toy sector offering LEGO sets.