The Entertainer has posted record full year sales and profits as the toy retailer pushes ahead with plans to expand in the UK and overseas.
The 89-store retailer said pre-tax profit increased 16% to £5.96m in the year to January 31. Sales rose to £125m from £94.3m the year before.
Like-for-like sales rose 1.3%.
The Entertainer reported the performance was driven by like-for-like sales growth across its network of stores, careful cost control, the opening of 14 new stores across the UK and the relocation or refitting of four existing stores, where new flooring, wider aisles and clearer signage was implemented.
The Entertainer founder and managing director Gary Grant said refits at its Ipswich and Coventry branches, both of which had not been revamped for more than 10 years, had “transformed” the stores.
He added: “If you look at what they looked like before and now, they look completely different.” Grant said he was looking to improve at other stores in his portfolio.
This year the business plans to open 12 UK stores, but Grant declined to reveal which locations the retailer was eyeing.
In December, The Entertainer made its first push overseas with a store in Dubai, as part of an agreement with franchisee Al Owais Enterprises to open 45 stores in the Gulf region.
The Entertainer, which scooped Growth Retailer of the Year 2014 at the Oracle Retail Week Awards earlier this month, said click and collect sales soared 93% in the five weeks leading up to Christmas.
Grant described 2013 as a “momentous” year for the toy retailer.
“These strong financial results mean we have achieved five years of continuous growth, which is something I am very proud of considering the retail landscape over the last few years. 2014 will be another important year for us with the planned opening of 12 stores throughout the UK and further international expansion,” he said.
Grant added: “The Oracle Retail Week Award is the cherry on the cake for us. It is a huge achievement as we were up against many well established and highly regarded retailers. This award is recognition of many years of continuous commitment by our colleagues.”
The Entertainer was founded by husband and wife team Gary and Catherine Grant in 1981.
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