Character Group says outlook remains tough

TOY designer and distributor Character Group said today that it expects to meet market forecasts despite “very difficult”  Christmas trading.

The group, which has its main warehouse in Lees, Oldham, said that it had responded to the poor economic outlook by ensuring stock levels were not excessive and cutting costs were reduced.

In a challenging market for all trading companies, it said: “We believe that the group’s key brands have held up well with no substantial casualties. This is encouraging when compared to the market as a whole.”

The company said it is “more difficult than normal” to forecast how it will fare this tear, particularly with the Diamond Jubilee and the Olympics having the potential to disrupt trade.

On a more positive note it said that it expects its key brands to continue to do well and hinted that it may have a trick up its sleeve regarding new products, with some “new and exceptionally exciting new product introductions” due to be launched at next week’s International Toy Fair in London.

Chartacter added “Whilst the results for the current financial year rely heavily on July and August sales, we are confident that our new introductions plus an increased retail presence giving us wider distribution should enable us to meet our forecasts for the year as a whole.”