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PRIVACY
Retail & Consumer

Hamleys closes dozens of º£½ÇÊÓÆµ stores in bid to boost bottom line

The famous toy store, which was founded in London in 1760, has closed dozens of loss-making stores in the º£½ÇÊÓÆµ in a bid to boost its bottom line in the face of a 'challenging' retail market

Toys in Hamleys(Image: Leicester Mercury/Chris Gordon)

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£½ÇÊÓÆµ, 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£½ÇÊÓÆµ 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.