Hamleys underwent changes in its operations, closing down 29 stores and reducing its workforce from 435 to 401 employees. This move followed the closure of 40 shops in the previous year due to inflationary pressures. However, on a positive note, Hamleys also opened 22 new locations during the same financial year.
The renowned toy retailer now operates 11 stores in the UK and has a global presence with 176 branches. According to financial reports from Companies House, Hamleys’ turnover increased from £51.4 million to £53.3 million in 2024. Pre-tax profits surged to £3.7 million, a significant rise from the previous year’s £673,000, while UK sales saw an increase from £43.9 million to £45.9 million.
Established in London in 1760, Hamleys holds the distinction of being the world’s oldest toy retailer, as recognized by the Guinness Book of Records. Since 2018, it has been under the ownership of Reliance Industries, an Indian conglomerate.
In a statement, the board expressed optimism about future growth prospects, particularly through franchise royalties and expansion into new territories. Despite challenges in the UK retail market due to inflation, the company remains focused on cost optimization to ensure profitability.
The strategic review conducted in 2024 has yielded positive results, emphasizing the importance of enhancing customer experience, introducing new products and services, and expanding both domestically and internationally. Moreover, a robust digital strategy is identified as a key driver for growth in the UK in 2025.
In a separate development, Deep Blue Restaurants divested nine of its branches between October 2024 and May 2025. The chain, which also owns Harry Ramsden’s, used the proceeds from the sales to refurbish existing locations and invest in marketing campaigns. Deep Blue Restaurants currently operates 16 establishments, while Harry Ramsden’s has eight sites, as per the company’s website.