Character Options has said that it will 'not be in a position' to achieve the market forecasts for the financial year ending August 31st 2013.
The toy supplier expects its 2013 first half sales to fall 'materially short' of its budgeted sales to Christmas, blaming an 'abnormally difficult' market and poor demand for certain toy lines in its portfolio.
While licensed ranges including Peppa Pig, Fireman Sam and Scooby Doo performed well, third-party lines like Zhu Zhu Pets and Squinkies saw demand fall away ‘much faster than anticipated’. App toy brand AppGear also underperformed (AppGear Foam Fighters pictured).
Speaking in a trading update ahead results for the financial year ending August 31st 2012, Character Options said: “[We expected] AppGear, which was thought by the trade to be one of the hottest new categories within the industry, to achieve a niche position but sales to date have fallen well short of expectations.”
Character said it was optimistic that it could generate stronger sales in the calendar year 2013, commenting that its Bin Weevils, Angry Birds and Construct-a Bugz toy lines each had great sales potential. Premier League football construction line, Character Building Sports Stars, has also made ‘a solid start with encouraging sales’.
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