Sales may have dipped but profits have risen for Toys ‘R’ Us, giving them a healthy 2016 according to Toyworld Mag.
The retailer has unveiled an 82% jump in pre-tax profits to £42.7m in the 12 months to 28th January. According to documents filed at Companies House, the retailer’s operating profit totalled £21.3m, compared with £8m the previous year. However, sales fell 4% in the period to £418m.
The UK business – part of the US-based Toys R Us group – pointed to a ‘competitive’ market environment. It said it hopes to drive both store and online sales by improving its product, maintaining product margin, and offering competitive pricing. It also plans to reduce distribution and administrative costs.
At the end of the period, Toys R Us operated 100 stores, compared with 78 the previous year.