Hamleys back in the black
HAMLEYS has bounced back into the black for the first time in six years.
Like-for-like sales rose five per cent in the year to 31 March helping the retailer to a pre-tax profit of £0.1m from continuing operations versus a loss of £4.1m in the previous year.
However once exceptional charges associated with the restructuring are included Hamleys made a net loss of £0.6m on sales of £60m.
Hamleys chief executive Gudjon Reynisson, said: “We are extremely pleased with the Group’s performance, particularly considering the difficult retail environment. Hamleys has a strong brand identity and we are building its reputation internationally for providing a retail experience for both children and adults in a unique and magical environment.
“We plan to capitalize upon this by expanding and developing our franchises into new markets with strong retail partners. We are confident that the business is now positioned for the next phase of its development.”