Following a bumper Christmas period, The Entertainer has seen their profits for 2018 surge by 31% in comparison with 2017.
The high street toy retailer, The Entertainer has today announced a 31 per cent increase in YOY profits.
The retailer delivered a total YOY sales increase of 21.7 per cent for the 12-month period ending January, 28th 2019 with like-for-like store sales growing by 12.3 per cent.
The multi-channel retail chain also saw success across its online platform, TheToyShop.com with a reported a 38 per cent sales increase for the same period.
On top of this, it 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 company’s total charitable donations hit £2.7m.
It was yet another year of physical growth for the retailer, too, who added 16 stores to its UK portfolio, taking its total to 163, as well as building its international footprint with the acquisition of Poly, a chain of 55 shops in Spain.
The Entertainer also 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.
This is all in addition to the company’s recent acquisition of the Early Learning Centre (ELC). ELC operates within 80 Mothercare stores in the UK, 400 stores internationally via franchise partners and online through its website,www.elc.co.uk. The acquisition also included its portfolio of iconic British toy brands such as Happyland.
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.
“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.”