This ad will be closed automatically in X seconds.

In the news this week… Retail Round-up

Including Smyths Toys almost doubling pre-tax profits in the UK last year.

The Source rounds up some of the key retail stories of the week.

Brands including LEGO Star Wars, Hatchimals and Power Rangers have helped Smyths Toys to almost double its pre-tax profits in its UK operations last year. The Irish chain, which has over 80 stores in the UK, notched up €11.2 million (£10 million) in pre-tax profits in the year ending December 2016 – up from £5.96 million the year before. Sales in the mainland UK also went up by 19% from £334 million to £396.49 million (€447 million) on the back of 12 new store openings.

The Entertainer is to welcome former Tesco director John Driscoll as its new commercial director. John will leave his role as category director at the grocer where he has spent a decade. He will now be charged with accelerating growth at the toy retailer, both domestically and internationally.

New figures show that total retail sales at Network Rail’s train stations grew by 5.29% between April and June 2017. Paddington, London Bridge and King’s Cross stations showed the highest growth in London, with 40%, 15% and 14% growth respectively. Outside of London, Birmingham New Street and Manchester Piccadilly were the best performers.

High street fashion retailer River Island saw its profits drop in its last full year – operating profit was down to £135.7 million from £145.8 million in the year to December 31, 2016. However, sales were up 4% to £970.5 million. The retailer is investing in store and category expansion, as well as hiring more buying, merchandising and design staff, said chief executive Ben Lewis.

Want to read more news like this? Simply sign up to our daily digest by clicking here. You can also follow @LicensingSource on Twitter.

Mike Coles, group md at Blues Group, on changes in strategy beginning to bear fruit and increasing sales year on year....
Agency secures mobile accessories deal for Pringles, as well as renewals with four key SLUSH PUPPiE partners....
"We’re looking forward to leveraging our global licensing, merchandise and retail experience and bringing to life the unique IOM TT atmosphere."...
“We are thrilled to collaborate and create a collection of apparel that celebrates the band and MTV’s influence on the global music industry," says Bravado's David Boyne....
The range features eight historic wallpaper designs adapted and recoloured for use within the modern interior....
The museum is looking to further grow its commercial team, seeking a brand licensing senior creative manager....
Get the latest news sent to your inbox
Subscribe to our daily newsletter

The list doesn't exist! Make sure you have imported the list on the 'Manage List Forms' page.