Hamleys, a renowned toy retailer, underwent changes in its operations during the recent financial year. The company closed 29 stores and reduced its workforce from 435 to 401 employees. This downsizing followed the closure of 40 shops in the previous year due to inflationary pressures. Despite these challenges, Hamleys also opened 22 new locations during the same period.
Currently, Hamleys operates 11 stores in the UK and has 176 branches globally. The company reported a turnover increase from £51.4 million to £53.3 million in 2024, with pre-tax profits rising to £3.7 million, a significant jump from the previous year’s £673,000. Additionally, UK sales surged from £43.9 million to £45.9 million.
Established in London in 1760, Hamleys holds the distinction of being the oldest toy retailer globally, as acknowledged by the Guinness Book of Records. Since 2018, the company has been owned by Reliance Industries, an Indian conglomerate.
In a statement, the board expressed confidence in the company’s performance, citing strong growth driven by franchise royalties. They highlighted plans for expansion into new territories and the organic growth of existing ones. Despite challenges in the UK retail market due to inflation, the company remains cautiously optimistic about its growth prospects. Focus on cost optimization, enhancing the customer experience, and digital strategies are key priorities for sustainable business growth.
In a separate development, Deep Blue Restaurants, a fish and chip shop chain, sold off nine of its branches between October 2024 and May 2025. The company, which also owns Harry Ramsden’s, used the proceeds from the sales to refurbish some Harry Ramsden’s locations and invest in marketing campaigns. Deep Blue Restaurants currently operates 16 restaurants, while Harry Ramsden’s has eight sites.
Overall, both Hamleys and Deep Blue Restaurants are navigating changing market conditions and strategically positioning themselves for future growth opportunities.