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It has just been announced that the administrators have failed to find a buyer for the 100 UK stores of Toys R Us and so all of the remaining stores will close within the next six weeks with 1/4 of the stores having already been closed or being due to close by the end of this week.
Buyers are still being sort for the US stores and the Canadian side remains open at this stage.
| Discuss: Read on
The NPD have released figures that show that the UK toy sales market is currently the strongest its been since 2002 with an 11% growth in the period Jan-Oct. Things are not all rosy however as sales of Action Figures are actually in decline was consumers have switched to building sets.
More to follow
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The UK toy market just got slammed by the chairman of the BTHA (British Toy and Hobby Association) Roger Dyson. In
an address to visitor's of the association's Industry Day, he pointed to a number of difficulties faced throughout 2008, which led to the UK becoming "The worst performing toy market in the
developed world when compared with 2008." Dyson gave a few reasons for the decline
"The
administration of Youngsters in April was challenging enough for many
of our members, but the reqercussions of the administration of
Woolworths have still not subsided and are unlikely to to, at least
until 2009 is well past.
"The changing landscape of retail in
teh UK is and will continue to be a challenge to our members for some
time to come but our industry will as ever change and adapt to what
will continue to be an ever changing economic and retail environment." ... "We face a further difficulty, lower turnover leads to
lower marketing spend which leads to lower sales, we are in a downward
spiral that we need to reverse."
| Discuss: Read on
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