Hamleys, a renowned toy retailer, made significant changes during its recent financial year. The company closed 29 stores and reduced its workforce from 435 to 401 employees. This downsizing follows the closure of 40 shops in the previous year due to inflationary pressures. However, there is a silver lining as Hamleys also opened 22 new sites, bringing its total store count to 11 in the UK and 176 worldwide.
In terms of financial performance, Hamleys reported an increase in turnover from £51.4 million to £53.3 million in 2024, with pre-tax profits soaring to £3.7 million compared to £673,000 in the prior year. Additionally, UK sales rose from £43.9 million to £45.9 million.
Established in London in 1760, Hamleys holds the distinction of being the oldest toy retailer globally and has been owned by Reliance Industries, an Indian conglomerate, since 2018. The company’s board expressed optimism about continued growth driven by franchise royalties and the introduction of new territories. Despite challenges in the UK retail market due to inflation, Hamleys remains focused on optimizing costs, enhancing the customer experience, and pursuing digital strategies for future growth.
On a related note, Deep Blue Restaurants recently sold nine of its branches between October 2024 and May 2025, directing funds from the sale towards refurbishing Harry Ramsden’s locations and marketing campaigns. Deep Blue Restaurants, which also owns Harry Ramsden’s, currently operates 16 Deep Blue restaurants and eight Harry Ramsden’s sites.
Both Hamleys and Deep Blue Restaurants are navigating changes in the market landscape to ensure sustained growth and customer satisfaction while adapting to evolving consumer trends.
