CHARACTER: Strategy changed in lead up to Christmas

The Character Group has predicted slow trading conditions will hit August and Christmas toy sales.

Author:: Katie Roberts
Publish date:: Aug 6, 2008
Social count:: 0

In a recent trading statement, the firm explained that while retailers are experiencing slow trading generally, toy stores are likely to be one of the hardest hit.

The British Shops and Stores Association has estimated sector sales for the second quarter, ending June 2008, to be down by 7.5 per cent.

Character is now expecting a slower intake by their customers than originally anticipated. The company is confident, however, that they have the experience to deal with the falling sales.

The statement said: “ Directors are confident that the Group will be able to deal with the effects of this downturn, not least by ensuring that inventory exposure is reduced in line with more conservative expectations for the lead up to Christmas.”

It continued: “Whilst this may limit opportunities if the economic conditions improve over the next six months, it is believed that preserving positive cash-flow and a strong balance sheet are prudent policies for the Group to follow at this time.”

Character Options says Xmas sales were down 35 per cent in its latest trading statement, affected by the demise of Woolies.

Bindeez recall and weak Christmas trading hinder Character Group?s H1 performance.

The Character group has issued a profit warning ahead of the Christmas sales period, blaming low consumer confidence.

The Character Group has issued a trading statement declaring a substantial increase in like for like sales during the first quarter.

The toy firm will be increasing its retailer character visits in the lead up to the key Christmas shopping period.

Character Options has signed a sponsorship deal with Disney Channel UK around the Hannah Montana series.

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