Tag Archives: COVID-19

Spring Fair 2021 cancelled and replaced with Spring Fair @ Home virtual event

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Hyve Group has confirmed that Spring Fair 2021 is cancelled.

In line with the latest UK Government restrictions on the reopening of business conferences and exhibition halls, the show’s organisers have announced that Spring Fair will not be taking place in 2021. The home and gift retail show traditionally takes up a February slot, but has been cancelled due to the ongoing pandemic crisis.

The next planned home, gift and fashion retail event will be Autumn Fair, together with Moda, at the NEC Birmingham on 5th-8th September 2021, while Spring Fair will return as an in-person event, 6th-10th February 2022.

Hyve and the team behind Spring Fair, JWF, Glee at Spring Fair and Moda are now working to deliver an enhanced virtual forum with product features and exclusive seminar content designed to educate and inform participants.

More information on Spring Fair @Home will be available on the Spring Fair website, while Fashion Together can be found on the Moda website in due course.

Julie Driscoll, managing director, UK Retail, said: “While it is regrettable that we won’t be able to meet in person at Spring Fair and Moda in February due to the new UK government rules, we are incredibly excited to host Spring Fair @Home and Fashion Together.

“Following the success of this year’s virtual forums, we’re looking forward to providing our clients and customers another touchpoint to be inspired and stay connected with the retail industry.”

Ian Taylor, managing director, NEC Group Conventions and Exhibitions, added: “We’re saddened to not be welcoming the retail community to the NEC for Spring Fair in February 2021, but are pleased to hear that retail professionals and suppliers will still have an opportunity to connect with each other in early 2021, albeit in a virtual environment with Spring Fair @Home.

“We look forward to welcoming everyone back to the NEC in person for Autumn Fair and Moda in September 2021, with Spring Fair itself returning in February 2022.”

Spring Fair continues to provide exclusive webinars, industry news and product updates that keeps the home and gift retail community informed, connected and inspired on The Community hub.

Sainsbury’s to close 420 Argos stores amid plans to save £600 million by 2024 and meet changing consumer habits

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A total of 420 standalone Argos stores are to be closed by March 2024, the super market giant and owner of the Argos store brand, Sainsbury’s has confirmed, amid news that it is to cut 3,500 jobs across its portfolio.

The retail giant’s boss Simon Roberts said that the move was Sainsbury’s response to changing consumer habits and the growth of online shopping. Amid the closures will be all of Sainsbury’s meat, fish and deli counters owing to lower customer demand and a desire to cut food waste.

Of its Argos portfolio, the grocer has stated that 150 outlets will be opened within its supermarkets, but that by the end of its restructuring, which will see the permanent closure of 420 standalone outlets, its total number of Argos stores will be around 100. The restructuring will save about £600 million by 2024, the firm said.

Sainsbury’s suffered a £137 million loss in its half-year results, a dive it has blamed on closures and market changes.

The company, which bough Argos in 2016, said in its statement that the 120 standalone Argos stores that had not reopened since they were closed in March would now be shut permanently.

In addition to the 150 Argos stores it plans to open in its supermarkets by 2024, it also plans a further 150-200 collection points.

“We are talking to colleagues today about where the changes we are announcing in Argos standalone stores and food counters impact their roles,” said Simon Roberts, Sainsbury’s chief executive.

“We will work really hard to find alternative roles for as many of these colleagues as possible and expect to be able to offer alternative roles for the majority of impacted colleagues.”

He said the aim was to make Argos “a simpler, more efficient and more profitable business”. Products from the Habitat brand will also be more widely available in the stores and via Argos.

“Our other brands – Argos, Habitat, Tu, Nectar and Sainsbury’s Bank – must deliver for their customers and for our shareholders in their own right,” he said.

Despite the cutting of the 3,500 roles, the supermarket expects that it will have created about 6,000 net new jobs by the end of the year.

The Entertainer partners with Mattel to bring a virtual Christmas grotto experience to children this year

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The family-owned high street toy retailer, The Entertainer, has teamed up with Mattel to create a virtual grotto experience for children missing out this Christmas due to the coronavirus pandemic.

With government restrictions, lockdowns, and social distancing measures taking experiences and events off the table this year, the pair are looking to recreate the experience of the Christmas grotto visit in a unique way with a giveaway offering 50 places to families who will get the chance to ‘dial through’ to the North Pole and chat with Santa and his elves.

Supporting some of those families most at need, 25 of the 50 spaces will be split between families from The Salvation Army nurseries and families supported by the support group Enabled run by The Salvation Army who provide spiritual and social fellowship for people with a disability and their carers.

The remaining 25 spots are open to the public to win. Families have from November 5th to 21st to enter. Full T&Cs can be seen on the website alongside the entry form by following this link: https://emails.thetoyshop.com/public/m/santa_competition

As well as a chance to meet Santa, there will also be toys from Mattel to be won including the latest Barbie dolls, Hot Wheels cars, Mega Bloks construction toys as well as games including UNO and Scrabble. All entrants will also receive a 10 per cent off voucher for Mattel toys at The Entertainer.

Gary Grant, founder and chief executive of The Entertainer, said: “Covid-19 has had a huge impact on our children, from missing play dates with friends to time away from learning and this Christmas is already looking very different. Visiting Father Christmas is a time-honoured Christmas tradition for thousands of children across the country, and whilst social distancing means this isn’t possible this year, we wanted to bring Santa to children in the virtual world so families can share the joy of Christmas together.”

The London Stationery Show confirms new May dates for 2021

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The London Stationery Show will be making its return in 2021, taking up a new summer slot across May 18th and 19th at the Business Design Centre.

Exhibitions in the UK have been halted over the course of the pandemic and were originally due to resume in October. The government Department for Culture, Media and Sport has already approved the event industry’s Covid-19 guidance, and was also satisfied with pilot events which took place in September.

It is now expected that events will be allowed to restart from March 2021.

The London Stationery Show is the latest in a calendar of events to have to adapt to the current climate and the ongoing coronavirus pandemic. Earlier this week, the organisers of the annual Spring Fair confirmed that its 2021 show would not be going ahead, but instead be held as an all-virtual event ahead of the return of its physical format with Autumn Fair 2021 and Spring Fair 2022.

Last month, the British Toy and Hobby Association made the decision to call off London Toy Fair.

“We are confident that exhibitions will resume in the spring,” said London Stationery Show’s event director, Alex Butler “And to ensure we’re in the best position possible to host a second-to-none event, we have secured a slightly later date than usual for next year’s show.

“From speaking with exhibitors and visitors over the course of this year, we know that everyone is craving the opportunity to meet face-to-face. The industry is in agreement that nothing can replace the organic business which comes from an exhibition.

“The health and safety of everyone involved will continue to be at the core of our planning, and we will be working hard to communicate our plans to ensure everyone feels confident attending the show.

“We are ready to safely open London Stationery Show’s doors and cannot wait to see everyone there.”

London Stationery Show will take place on Tuesday 18 May and Wednesday 19 May 2021. For more information you can contact the team at stationeryshow@oceanmedia.co.uk.

Funko sees 14 per cent sales dip but CEO Brian Mariotti praises global team in a ‘challenging 2020’

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Despite a decrease of 14 per cent in net sales in its third quarter financials year on year, Funko’s CEO Brian Mariotti has praised the efforts of the pop culture specialist’s international teams in its executions throughout a challenging 2020, and believes the firm is ‘well-positioned for the Holiday season’ with its most diverse product offering to date.

The company’s chief executive has also expressed optimism for the outfit’s Q4 2020 performance, citing expanded presence within key retailers as it makes plans to “remain agile in the face of today’s dynamic environment.”

Funko saw net sales decrease 14 per cent to $191.2 million in the third quarter of 2020 compared to $223.3 million in the same period the year prior. The decline has been primarily attributed to the slower recovery from Covid-19 impacts within the domestic specialty channel and European region.

These impacts were partially offset by growth within the domestic third party e-commerce and mass-market channel as well as the Company’s own direct-to-consumer business. Funko’s direct to consumer e-commerce sales increased more than 150 per cent compared to the year prior.

Meanwhile, Funko’s Loungefly branded products grew 25 per cent compared to 2019, driven by the momentum of Loungefly.com and within wholesale channels.

In the third quarter of 2020, the number of active properties was 715, which represents a 14 per cent increase from the third quarter of 2019.

On a geographical basis, net sales in the United States decreased four per cent to $140.9 million. Net sales internationally decreased 34 per cent to $50.3 million, reflecting more significant impacts from Covid-19 primarily within the European region.

On a product category basis, net sales of figures decreased 18 per cent to $145.0 million. Net sales of other products decreased one per cent to $46.2 million, reflecting strength in Loungefly branded products which increased 25 per cent compared to the prior year due to strong momentum on Loungefly.com as well as at wholesale retailers.

“Our teams have executed well in 2020 despite the challenges presented by the pandemic,” said Brian Mariotti, chief executive officer. “In the third quarter, we outperformed revenue expectations, reflecting strength within our domestic mass market and digital channels.

“We also maintained strong gross margins and cost controls, which allowed us to deliver improved profitability. The quarter was highlighted by our successful evergreen programs, expanded product offerings and enhanced e-commerce capabilities, all of which are enabling us to drive increased engagement with our fans around the globe.

“While we expect to face continued headwinds in specific channels and regions in the fourth quarter, we believe we are well positioned for the holiday season with our most diverse product offering yet and an expanded presence within key retail partners. Looking further ahead, we are staying focused on our four key strategies and remaining agile in the face of today’s dynamic environment.”

The Company anticipates that effects from the Covid-19 pandemic will continue to impact sales in the fourth quarter of 2020 and currently expects net sales on a percentage basis to be down 10 per cent to eight per cent compared to prior year.

Lockdown II: Primark expects further loss of £375m in sales after initial shop closures cause 60 per cent slump

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Store closures at the hands of the coronavirus pandemic have seen sales and profit at the international retailer, Primark slump by as much as 60 per cent as reported in its full year financials ending September 12 2020. The value retailer has seen adjusted operating profit plunge to £362 million, while full year revenues fell 24 per cent to £5.9 billion.

These figures have been driven by a total loss of sales in the third quarter as stores were forced to shut under government-enforced lockdowns around the world – particularly in the UK, Primark’s biggest market. The retailer has been one to feel the impact of the pandemic the hardest, having no online operations in place at all.

But despite its trading performance, Primark has still managed to open 12 new stores in the financial year, bringing it total portfolio to 384 stores globally.

According to the Retail Gazette, Primark’s trading performance impacted the overall full year figures for parent company AB Foods, which reported a 40 per cent drop in operating profit to £810 million, while group revenues declined 12 per cent to £13.93 billion on an actual currency basis.

The retailer will now have to re-live the effects of a national lockdown, following the announcement over the weekend that England will enter its second country-wide lockdown from Thursday this week, closing all non-essential shops until early December. Yesterday AB Foods said it expected Primark to lose £375 million worth of sales as a result of the second lockdown period from November 5 to December 2.

AB Foods said the new restrictions would have a “significant” impact on Primark, although it still expected sales and profits in the retailer during the current financial year to be higher.

“I am proud of how our people have responded to the many challenges presented by Covid-19,” AB Foods chairman George Weston said. “Throughout, we have provided safe, nutritious food under the most extraordinary conditions, proving the value and resilience of our supply chains.

“Following a three-month closure, Primark delivered a robust performance, receiving an overwhelmingly positive response when it safely welcomed customers back to its stores.

“Uncertainty about temporary store closures in the short-term remains, but sales since reopening to the year-end of £2 billion demonstrate the relevance and appeal of our value-for-money offering.”

Toys and Consumer Products revenue lifts as WWE negotiates Coronavirus fall-out

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The chairman and CEO of the sport and entertainment franchise, WWE, has championed the business’ creativity throughout a challenging environment, highlighted a strong performance for the brand in its third quarter financials.

WWE has been among the hardest hit by the coronavirus pandemic that has rendered live events – the model upon which WWE generates a majority of its income – impossible to maintain to the same volume and capacity of live audiences as pre-Covid times. Despite the impact that has driven a 97 per cent decrease in revenue generated by live events, the organisation remains optimistic.

Consolidated results see the franchise hit third quarter revenue of $221.6 million, an increase of 19 per cent – or $35.3 million – on the same period last year, that has been primarily driven by the growth of core content rights fees in the media segment. This revenue was partially off-set by the loss of ticket and merchandise sales that resulted from the cancellation, postponement and relocation of its live events.

Revenue generated from live events plunged to $0.7 million.

However, the brand’s consumer products sales witnessed a revenue increase of 17 per cent on Q3 2019, taking it to $19.9 million in reflection of increased merchandise sales at the Company’s e-commerce site, WWE Shop, and higher video game and toy royalties. Increased sales via its e-commerce platform substantially off-set the absence of venue merchandise sales resulting from the absence of ticketed audience events in the quarter.

“Our third quarter financial performance was strong and reflected our ongoing creativity in a challenging environment,” said Vince McMahon, WWE chairman and CEO. “We continue to adapt our business, as demonstrated by the creation of WWE ThunderDome, focusing on increasing audience interaction and engagement to support the value of our content globally.”

Kristina Salen, WWE chief financial officer, added: “In the quarter, we delivered revenue of $221.6 million and Adjusted OIBDA of $84.3 million based on increased rights fees for the Company’s flagship programming. With $638 million in cash and short-term investments at quarter-end, we believe WWE has substantial capital resources to manage challenges that may lie ahead and to deliver on key strategic initiatives.”

Net Income for the WWE business was $48.2 million, an increase from $5.8 million in the third quarter 2019, primarily reflecting stronger operating performance.

Cath Kidston will ‘draw on British heritage to operate as a digital-first retailer in the UK’

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Cath Kidston has identified opportunities to bolster its brand relevance and product innovation, as well as improve its digital presence and international partnerships, the retailer has said, in a move to deliver “a sustained profitability model” over the next three years.

The fashion and lifestyle name entered administration and underwent a restructure in April this year. Since then, it has leaned into online retailer, an arm that now accounts for 85 per cent of its business. The firm has now detailed a transformation plan that puts digital acceleration and global growth at its centre.

With renewed support and investment from parent company Baring Private Equity Asia, Cath Kidston said it has realigned its cost base and structure to create an “economically viable operating model” as a brand-led, digital first retailer.

The retailer has said that it would draw on its British heritage to operate as a digital-first retailer in the UK.

As reported by the Retail Gazette, Cath Kidston will re-open its Piccadilly store in London next month, which will operate as its global flagship and its only high street store in the UK. It will seek to leverage its wholesale relationships and franchise partnerships in over 35 countries.

Other transformation measures include streamlining Cath Kidston’s product range by curating content for customers in more meaningful ways, and refining the offer to focus on key products and easier ways to shop.

The retailer has ambitions to reclaim its status as a gifting destination where one in five UK customers have either bought or received a Cath Kidston gift, and will continue to build new categories to reflect growing consumer demand in areas such as home and kids.

Cath Kidston chief executive Melinda Paraie, said: “We truly believe that Cath Kidston is a brand for our time, and we have worked incredibly hard to create a sustainable, profitable future for the brand following our restructuring.

“Our customers sit at the heart of our new strategy, and it was fundamental to our vision that we could maintain Cath Kidston’s role of inspiring the everyday optimist with our hand drawn prints and joyful products.

“Particularly as we all face our new normal world, the role of bringing moments of joy to everyday is even more relevant.”

Cath Kidston chair Marty Wikstrom, added: “[Cath Kidston] is a brand with a powerful heritage and loyal customer following that has pivoted its business strategy to ensure that it is positioned for success in a changing retail environment.”

Cath Kidston’s administration process occured at the height of lockdown in April this year and led to the closure of 60 of its UK stores and the loss of 908 jobs. Baring Private Equity Asia had secured a pre-pack administration deal that saw it buy back Cath Kidston’s brand, wholesale and online operations.

The retailer’s 100-plus stores overseas, especially in Asia, were untouched from the administration process.

Menkind is expanding licensed ranges and adult party and card games to meet lockdown trends

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The gadget and gift retailer, Menkind has highlighted its plans to expand on its licensed products and exclusive ranges as it heads into the Christmas shopping season, a move that has been driven by the increased consumer engagement with pop culture TV, films, video games and entertainment throughout the pandemic.

Licensed products, according to the retailer, who recently detailed its plans to open concession stores with the UK department store giant Debenhams in the run up to Christmas, have become a “comfort blanket for consumers in difficult times,” and as a result will be increasing its listings as it adapts to current demands.

Last month, Menkind revealed that it was opening 23 concession stores within select Debenhams department stores across the UK, planning to open each from the start of October. The new concessions will be staffed by over 50 new recruits across all locations, and will stock all the core Menkind product range.

Among those ranges will be key trends to have emerged from 2020, including the greater lean on licensed products, as well as a trend for adult party games driven by the increased time consumers are spending socialising from home over virtual gatherings and group chats.

“Being stuck at home, people have turned to movie and TV show online streaming services, as well as games and video gaming as their main entertainment,” Fred Prego, director of marketing and e-commerce at Menkind, told ToyNews.

“Licensed products have become a comfort blanket in these difficult times. We have always stocked a quirky and unique range, so it’s definitely in our plans to expand our offering with new products and exclusive lines that are in high demand. I think it’s crucial to really listen to what consumers want during these times and adapt to trends very quickly.

“Meanwhile, with limited socialising in pubs and restaurants across the country, the biggest trend in my opinion is friends getting together virtually to have fun and relax with a drink. For that reason, we have extended our range of adult and party games that can easily be played in group chats.”

With the nation staring down localised lockdowns in the run-up to Christmas and restrictions in place in varying degrees across the country, Menkind has acted to adapt to the new model of Christmas shopping likely to be adopted this year. Its partnership with Debenhams places the brand within destination shopping zones ahead of the festive season.

Confirmed Debenhams store locations where Menkind will open include Bath, Birmingham, Cardiff, Colchester, Guildford, Manchester, Luton, London Oxford Street, Middlesbrough, Warrington and more.

“With Christmas markets and fairs likely not happening this year, we created an omni-channel proposition called ‘Menkind Wonderland’, to offer our customers a variety of toy, gift and gadget stalls online and in-store,” continued Prego.

“Debenhams felt like the perfect partnership to give shoppers a safe and fun pre-Christmas experience, and their widely accessible network of stores will help us best serve customers throughout the country during the busy holiday shopping period and beyond.

“Our Christmas range includes a wealth of unique gifts, gadgets and licensed merchandise, so we are determined not to have Christmas cancelled this year.”

When lockdown was first announced in March this year, Menkind swiftly began to introduce new products ranges such as puzzles and card games, in order to tap into the rising trend for family entertainment over the earlier part of the year.

“We also gave our online channels extra attention to ensure our customers are having a seamless shopping experience,” said Prego. “More recently, we’ve launched a range of exclusives and have implemented all the necessary safety measures during and post-lockdown. We are constantly listening to government advice in order to react as quickly as possible to any changes that affect retailers.

“Another initiative we’ve been working on has been releasing dedicated product ranges for key events earlier, to give people the opportunity to plan their shopping better, especially if it involves trips to the store. We started selling advent calendars as early as August, and it’s been very well received by our customers.

“Whilst we are continuously implementing all the safety measures recommended by authorities, we have made it our mission to communicate the same sense of fun and positiveness our customers are used to, and offer them the best experience possible in-store and across our online channels,” Prego concluded.

Costume specialist Rubie’s opens digital doors of Nuremberg virtual showroom and tours

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Giants of the costumes and dress up market, Rubie’s isn’t letting the postponed calendar of trade shows stop it from putting on a show early next year, as it prepares to open the digital doors of its 365 dedicated Nuremberg showroom with exclusive virtual tours and live appointments.

The new Virtual Showroom will be streamed through private viewings, providing buyers with an experiential approach to remotely research, interact and place orders from their expansive portfolio of global licensed brands.

Graham Gardiner, general manager EMEA, said: “Online retail and remote selling is one of the big growth areas for our sector. With the Virtual Showroom, we are bringing the same tailored personal showroom experience our customers are used to when they visit our Nuremberg venue, from the comfort of their home or office.

“At Rubie’s we’re keen to position ourselves at the forefront of digital excellence through our ecommerce website, HUB platform and now our virtual Showroom. We are adapting the way our business operates to respond not only to the current crisis but also to be at the forefront of long-term trends and adapt to the shifts in consumer behaviours.”

Rubie’s states that increasingly, digital viewing platforms are on the rise and quickly becoming key tools to accommodate growing expectations in the current climate. They’ve been adopted as a means of promoting brand to the marketplace in the absence of physical events.

Gardiner continued: “Last weekend over 40 Key Customers from around the world were treated to a one-on-one interactive experience by using a live broadcast demonstrations of all the new products from Marvel, Disney, Lucas, Sony, DC, Harry Potter, Universal, Looney Tunes, Power Rangers, and many others major licenses.

“By using our Nuremberg Showroom, we were able to meet and present with our key partners. Customers have appreciated the personal approach and effort we have made in bringing our inspirational showroom to their desks.”

Rubie’s is looking to repeat the event early next year in the absence of physical Trade Shows and will be expanding these events in order to accommodate access for more customers throughout the UK and rest of the world.