Hamleys back in black

Sale of Bear Factory contributes to pre-tax profit of £8.2 million.
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Hamley’s has made a pre-tax profit of £8.2 million, according to a report from the Telegraph.

The figure includes the sale of the Bear Factory to US based firm Build-A-Bear and represents an improvement from the £7.4 million loss registered the year before.

Hamleys CEO Nick Mather told the Telegraph: "it was the right thing to do. It has enabled us to focus on Hamleys where there is a bigger opportunity".

Internet sales have also increased by 140 per cent and account for almost eight per cent of total sales.

Mather said he is very pleased with the firm’s overall performance, particularly the House of Fraser concessions which continue to exceed expectations.

The firm is also looking to open franchise stores in Turkey, India, Singapore and China after the opening of its first international store in Jordan next year.

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