Toy story: Hamleys hopes revamp will boost its fortunes

Retailer plans US expansion and overhaul of Regent Street branch in battle to compete with key rivals

Fake snow is falling and a hyperactive elf is hopping around on the pavement, geeing up the crowd pressed against the windows of Hamleys toy store, which is filled with a Christmas scene of sledding Beanie Babies.

“It’s an institution,” says Tamara Maddrell, an Australian tourist trying to restrain her young sons, who each have £25 to spend and are in ecstasy as the countdown to the store’s opening begins. “We don’t have anything like this in Melbourne.”

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