Hamleys has taken further steps to streamline its operations, closing down 29 unprofitable stores during its most recent financial year.
This follows the toy retailer's previous move to shut 40 shops in the preceding 12 months, as reported by .
Despite these closures, Hamleys opened 22 new sites within the year and now runs 11 stores across the º£½ÇÊÓƵ, alongside a global presence of 176 franchises.
The latest financial figures lodged with Companies House reveal that Hamleys' turnover rose from £51.4 million to £53.3 million in 2024.
The iconic toy store also saw an uptick in pre-tax profits, climbing to £3.7 million from the £673,000 recorded in 2023.
In terms of regional performance, Hamleys' º£½ÇÊÓƵ sales increased from £43.9 million to £45.9 million, while European revenue jumped from £166,000 to £832,000.
Conversely, the company experienced a slight decline in international sales outside Europe, dropping from £7.3 million to £6.5 million.
The year also saw a reduction in staff numbers, decreasing from 435 to 401 employees.
Hamleys 'cautiously optimistic' despite challenging market
The board released a statement noting: "We had a strong year, driven primarily by franchise royalties, and we're optimistic about continued growth from it with [the] introduction of new territories along with organic growth of existing territories."
They also acknowledged the current retail challenges, stating: "The º£½ÇÊÓƵ retail market remains challenging going into 2025 as consumer spending continues to be impacted by inflationary pressures."
The statement concluded with a forward-looking approach: "As a result, we remain cautiously optimistic on business growth with a continuous focus on cost optimisation to ensure the profitability of the group."
The group emphasised its commitment to enhancing the shopping experience, stating: "The group is continuously striving to improve the customer experience and proposition across all formats to ensure long-term sustainability of the business."
They also highlighted their strategic focus: "We remain focused in identifying opportunities for future growth and implementing a robust digital strategy is a key growth driver for the º£½ÇÊÓƵ in 2025."
Hamleys reported: "The strategic review undertaken in 2024 to improve customer experience and proposition across all formats, introduction of new products and services, continued overseas growth and entry into new proprietary and franchise markets has delivered positive results for the group in 2024."
Recognised by the Guinness Book of Records as the oldest toy retailer globally, Hamleys was established in London in 1760.
Reliance Industries, an Indian conglomerate, has owned the historic toy store since 2018 after acquiring it for close to £70 million.
