Retail chain The Entertainer has reported strong growth in the first half of 2017, despite other firms reporting downward trends, with the sales expected to continue to be strong into peak trading season.
The company has reported sales up six per cent year on year, with like for like sales remaining broadly flat. Gross margin is also up on last year despite cost price challenges with year to date profit currently five per cent ahead of plan, putting the company in good stead for the second half of the year.
The firm highlighted stand-out products in its licensed ranges as well as fidget spinners and cubes of drivers of growth over the past six months.
The performance of TheToyShop.com is also extremely strong and with a number of website developments in the pipeline, they remain optimistic for the rest of 2017.
“We’re delighted with this year’s performance so far particularly having had to face into increased promotional pressure in the category and exchange rate fluctuations," commented Gary Grant, founder and managing director of The Entertainer.
"We have managed to hold firm to our plans and with a number of key movie and range releases still to come, we expect a positive effect on both our sales and margin for the remainder of the year.”
The Entertainer is continuing with its aggressive expansion plan, having opened six so far this year, with another nine stores confirmed to open in Q3 and Q4 and more expected in the new year.