2017 turned out to be a tough year for Hamleys, with overall revenue down by 2.5%. Toyworld Mag take a look at the situation.
In its annual report filed at Companies House this month, Hamleys detailed results for year ending 31st December 2017. The company reported a revenue reduction of 2.5% to 66.3m, which it said was due to market pressures and store closures. An adjusted EBITDA of £3m was reported, resulting in an EBITDA loss of £4.7m.
Overall, turnover was down £1.7m YOY, while profit/loss was down £13.8m YOY – making a loss for the year of 11.7m. Net assets were down £11.7m.
The company stated that trading continues to improve, with positive UK like for like sales growth of 2.7% in the eight months since year end, and that it expects to return to net profitability in the next 12 months.
Investment includes three UK travel store openings during 2018. Hamleys operates more than 130 stores globally and continued expansion plans include the opening of two Hamleys World format stores in new franchise market Japan in December 2018.
