Hamleys profit skyrocket with new stores in sight
Hamleys on Thursday announced a 250 per cent leap in pre-tax profits as the famous retailer continued to expand its presence in the UK and overseas.
Pre-tax profits for the year to 31 March rose more than 250 per cent to £2.3 million for the toy specialist, with sales in the UK and Ireland up 3.8 per cent on last year in total and 6.3 per cent on a like-for-like basis.
With its flagship Regent Street store considered a major attraction for London tourists, Hamleys is said to be planning to further expand its presence overseas, adding eight stores outside of the UK in the past year.
The results come just three months after French rival Ludendo bought Hamleys for £60 million from Landsbanki in September. Trading across 300 stores in Europe and with a turnover in excess of £500 million, Ludendo’s operation stretches across Europe and North Africa, leaving it well versed in international expansion.