Spielwarenmesse: Studio Retail toy sales help boost revenue

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Studio Retail toy sales help boost revenue

25. August 2020 15:10 h

By toyworldmag.co.uk

  • Studio Retail has described its recent trading performance as “exceptional” after sales surged during lockdown.

The online retailer has reported that demand for toys, homewares and gifts saw product revenues rise 42% in the 20 weeks since the end of March. Studio now boasts over two million active customers, a milestone which the company passed in June this year. This means the company is confident that it is in a strong position for the Christmas period.

Shares rose 6% to 265p following the news, boosting the value of the 37% stake held by the Frasers Group, whose owner, Mike Ashley, made a £140m bid for Studio Retail in April 2019. Studio is now valued at more than £210m, having benefited from strong online trading and plans to sell its Findel educational resources business for £50m – a deal still subject to approval from the Competition & Markets Authority (CMA).

The disposal of Findel will enable Studio to increase focus on its retail operation, which has posted operating profits of £39m for the year to the end of March. Product revenues of £311.7m were 2.5% higher than a year ago.

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