Hamleys reports 2017 loss
Harry Potter at Hamleys leads to 2018 like-for-like growth
Hamleys has reported losses for year-end 31 December 2017.
The company delivered a loss after tax of £8,642,000. They say the results reflect “the difficult retail environment which existed in the UK in 2017 resulting in higher costs such as rents, business rates and the adverse impact of foreign exchange rates.”
They also cited the “difficult economic environment” with "pressure on disposable income compounded by softening consumer confidence and falling customer footfall due to the threat of terrorism in the UK.”
Last year saw Hamleys closed two proprietary stores due to leases expiring or loss-making but opened four stores – at the end of 2017 Hamleys operated 25 stores within the UK.
They add that the UK market “remains challenging in 2018 as spending continues to be impacted by unprecedented consumer uncertainty”.
However, ventures such as Harry Potter at Hamleys has led to a 1.1 per cent positive like for like growth in the first half of trading for 2018.
They add that their “travel format is outperforming expectations and we continue to invest in this format and have opened a further three stores in the UK in 2018.”
In 2016, Hamleys boasted profit after tax of £1,013,000.