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Toys aid Hut Group growth - ToyNews

Toys aid Hut Group growth

Online retail portal, The Hut Group, grew sales by 70 per cent in 2010, according to its latest results.
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Group sales grew 70% (57% organic) from £51m to £87m in 2010. 

Non-entertainment product categories, which include toys, delivered 600 per cent growth in the year ( also including Fashion, Footwear, Sport, Health & Beauty, Gifting and Accessories).

The group owns well known sites such as www.iwantoneofthose.com; www.zavvi.co.uk and www.thehut.com, among others.

Matthew Moulding, chief executive, commented:
"2010 has been a transformational year for the Group. We have been fortunate in significantly strengthening both the management team and the shareholder base during 2010, providing the platform to deliver substantial growth in a demanding consumer environment.

"The growth in our product offering over the last 12 months means we start 2011 with a strong and unique proposition. While we have continued to deliver substantial growth through improvements in our entertainment offering for consumers, we now have a market leading online position and offering in Haircare, Health & Beauty and Gifting. Some 40 per cent of the Group’s sales now come from these and other non-entertainment products.

"Our focus for 2011 is to continue to drive strong organic growth by further improving the offering to our customers while delivering improved service."

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