Store closures across the US and the rest of the world at the hands of the Covid-19 pandemic have ‘significantly impacted,’ second quarter results for the pop culture collectables specialist Funko. Net sales for the firm decreased 49 per cent to $98.1 million in its Q2 2020 earnings compared to the $191.2 million in the same period last year.
The year-over-year decline has been attributed primarily to impacts from Covid-19 during the quarter, including the prolonged closure of many of the company’s retail partners.
The second quarter of 2020 also saw the number of active properties total 644, decline of five per cent on Q1 2020 numbers, but an increase on the second quarter of 2019. Net sales in the US dropped 36 per cent to $77.9 million, while international net sales plunged 71 per cent to $20.2 million.
The European region was especially challenged in the quarter as Funko made the strategic decision to shift new products slated for the second quarter into the third quarter of 2020. Sales related to Loungefly branded products declined 25 per cent compared to the prior year despite many of its retailers being closed, reflecting resiliency in the Loungefly brand during the quarter.
Despite what makes for pretty grim reading, Funko is optimistic for the second half of the year, boasting what it calls its ‘most diverse product offering in the market,’ ready to land for the holiday season.
Brian Mariotti, Chief Executive Officer, said: “Although our second quarter results were significantly impacted by store closures in both the US and abroad, we were able to accelerate our connection and engagement with our fans through continued innovation and new product introductions as well as the expansion of our direct to consumer business. In Q2, we saw strong performance on our own e-commerce sites which delivered triple-digit sales growth.
“Looking at the second half of the year we are excited to have our most diverse product offering in the market come this holiday season. In the face of the highly dynamic environment, we are staying nimble and remain committed to our key growth strategies.”
Rebellion, the renowned publisher behind one of Britain’s biggest comics, 2000 AD, is raising funds to help the UK’s only musem dedicated to comic books survive the current Covid-19 pandemic. In an effort to support The Cartoon Museum in London, the outfit has launched a special t-shirt bearing classic art from the heyday of British comics.
The new T-shirt is available exclusively from the 2000 AD and Treasury of British Comics web shops and features the cover of Battle Picture Weekly #423 (cover date: 11 June 1983) by the artist Eric Bradbury. As well as the museum’s own logo, it features the cover from the Invasion 1984 comic strip, depicting a Piccadilly Circus invaded by aliens.
All profits from the sale of the shirts will go towards the independent museum’s £150,000 fundraising appeal, which seeks to help it through the difficulties caused by the Covid-19 pandemic and lockdown.
The Cartoon Museum’s director, Joe Sullivan, said: “We are incredibly grateful to our friends at Rebellion for their kind offer to help with fundraising towards The Cartoon Museum’s survival during this difficult time. It is humbling to receive support from our peers and colleagues in the UK comic and cartooning scene, and shows the depth of feeling for the museum.
“We hope Rebellion fans and our visitors love the brilliant shirt design, and look forward to continuing to work with Rebellion in the future.”
Jason Kingsley OBE, the CEO of Rebellion, said: “Comics have a vital place in Britain’s culture and heritage, and The Cartoon Museum does great work protecting that legacy, preserving it for future generations, and showcasing the best creators of today. The heritage sector has been hit really hard by Covid-19 and the subsequent lockdown, and so we’re delighted to do what we can to help this nationally important museum survive and thrive.”
75 per cent of the museum’s yearly income is from admission, shop purchases, school visits, and venue bookings. However, since its closure on March 18th at the hands of the pandemic, the museum has been hit hard, with no regular government or local authority funding to supplement it. When visitors do return, the museum is expecting an 80 per cent drop in numbers.
Such a big expected drop in revenue, along with the longer-term impacts of COVID-19 on key audiences for the museum such as schools and overseas tourism, has huge implications and so The Cartoon Museum is fundraising to survive the closure period.
Set up by the Trustees of The Cartoon Museum, so far the fundraising appeal has raised £86,000 towards a total goal of £150,000. Various contributions have come in the form of small grants, proceeds of a half marathon, cover price and book sale reductions from publishers close to the musem, proceeds from a sale of one-off comic art, and donations from friends and the public.
In July 2020, the museum announced an award of £98,700 from the National Lottery Heritage Fund.
The Cartoon Museum champions cartoon and comic art, highlighting its importance to culture and society. Since 2006 it has received 420,000 visitors, and built a nationally important collection of 4,300 cartoons, comics and caricatures, and a library of 18,000 items.
The Cartoon Museum runs a well-attended school programme and sell-out school holiday workshops, and over 50,000 children and adults have attended cartooning, comic and animation workshops and the museum receives 3,000 student visits each year. The museum is a registered charity.
If you would like to help secure the museum’s survival, you can donate to the appeal at www.cartoonmuseum.org
The UK lifestyle trade show, Top Drawer – a destination for brands across home, gift, craft, fashion, and greetings – as confirmed that this year’s event will be held virtually, a step taken in light of the current coronavirus pandemic.
The move follows the UK government’s announcement that it will not be easing restrictions on exhibitoins in England until October 1st this year. Clarion Events has now confirmed that the A/W20 edition of Top Drawer will be held virtually.
Show director, Alejandra Campos, said: “While we had hoped we could deliver an event for the community, safely and successfully, we have also been busy planning for such an eventuality. We are now ready to launch Top Drawer virtual, a unique digital alternative that is sure to inspire, engage and connect our community of brands and buyers.
“The support of our exhibitors and visitors over the last few weeks has been incredible, and we are pleased we can provide them with the opportunity to network, forge new business and access the shared learning that they always turn to Top Drawer for.”
Top Drawer’s new digital platform will offer the show’s community new opportunities to network and expand trade. The September programme will provide both UK-based and international buyers easy access to exciting product launches, expert advice, inspiring case studies, next season trends, and much more.
Additional information about the virtual edition of the show will be released in coming weeks.
Genius Brands International has partnered with the MaskClub.com subscription service run by the license apparel company, Trevco, to bring the cast of its popular Llama Llama series to the cloth mask market.
As part of the initiative, GBI will be donating a percentage of the proceeds to the Save the Children organisation, a group for which, Jennifer Garner, a starring voice in the Llama Llama series on Netflix, serves as an Ambassador on the Board of Trustees.
For every mask purchased, MaskClub is also donating a medical grade mask to First Responders Children’s Foundation for distribution to paramedics, emergency medical technicians, police officers, firefighters, and medical personnel treating Covid-19 patients.
The company launched by donating by donating an initial 5,000 masks in April. All cloth masks featured on MaskClub.com are designed to be a protective covering for your face as advised by the CDC.
“When we learned from Trevco about the launch of Maskclub.com and all of the wonderful work they are doing on charity front to make a difference during this time, we knew we wanted to immediately get involved,” said Lloyd Mintz, senior vice president, global consumer products, Genius Brands. “We are honoured to have Llama Llama be a part of this initiative, and we look forward to donating to Save the Children in author Anna Dewdney’s memory.”
Trevor George, CEO of Trevco, added: “The past weeks have been a whirlwind. We are beyond grateful for the amount of attention and support we have received for Maskclub.com and we are so pleased to work with Genius Brands to add the tremendously popular Llama Llama brand to our offering.”
Toy Aid, the charitable initiative set up by KidsKnowBest’s Joel Silverman and Wow! Stuff’s Richard North, has revealed the total money raised as part of Global’s Make Some Noise charity campaign to be an impressive £143,075.
The Toy Aid movement’s aim was to raise money for charities that support disadvantaged children, young people and their families – those most vulnerable during the recent pandemic.
Founders Silverman and North have seen ‘massive support from allies all over the toy and licensing industry’, with companies pledging support via monies from the sale of ‘Toy Aid-able’ toys, video games and entertainment products as well as licensing fees and business services.
“There are so many individual thank yous that myself and Richard wish to make (hopefully in person in the not too distant future), commented Silverman. “And special thanks must also go to Ian Downes, Tracey Richardson and Norton PR who all stepped up to show their support from the outset.
“Of course the biggest thank you goes to every single company that has donated money and products to this amazing cause, in no particular order: Smyths Toys Superstore, SEGA, Playmobil, TOMY, Spin Master, ViacomCBS, Ravensburger, Golden Bear, EPOCH, Rubies, Plum Products, Rubik’s, Interplay, KidKreations, Canal Toys, WickedVision, Topps, Winning Moves, Big Potato Games, Retail Monster, Dr Zigs and Products of Change.
“Now Toy Aid is complete, I really hope everyone has positive times ahead and the toy industry as a whole is remembered for the support they gave in a time of need for many families. I never in my wildest dreams thought this would reach £10,000 so to raise over £140,000 is just fantastic.”
Save the Children Patron Her Royal Highness The Princess Royal, has marked the end of Save the Children’s successful Save With Stories initiative with a reading of Thomas and the Royal Engine.
The video has been shared on Save the Children UK’s Instagram page and is the final installment of the fundraising initiative which has seen over 70 well-known faces reading an array of bedtime stories. As well as keeping millions of families entertained during lockdown, the initiative has helped to raise funds for the charity’s Emergency Coronavirus Appeal.
The appeal has so far raised £1.4m to support families in the UK and around the world, those whose lives have been devastated by the pandemic.
The Princess Royal became the Patron of Save the Children in 2017 after serving as President since 1970. She chose to read Thomas and Friends: The Royal Engine, a story which sees Thomas overcoming various obstacles to get The Fat Controller to collect an award from the Queen.
The Princess Royal said in her video: “It has been my pleasure to read this book to you today, one I enjoyed when I was young.”
Having travelled to over 20 countries with Save the Children The Princess Royal goes on to note that “there are many more similarities than dissimilarities particularly amongst the things that children enjoy, and story-telling is very high on that list.”
Following the success of the US campaign led by actors Jennifer Garner and Amy Adams, Save the Children Ambassador Poppy Delevingne launched the UK version of Save With Stories in mid-April at the height of lockdown.
The Princess Royal joins niece-in-law Meghan Markle, who marked her son Archie’s first birthday with a reading of Duck! Rabbit!, and an array of other famous faces from the world of film, TV, theatre, music, fashion and beyond, who have all taken part. Amongst the names are actors Paul Mescal, Helen Mirren, Kate Winslet, Michael Ward and Benedict Cumberbatch, singers Rita Ora, Liam Payne and Jade Thirlwall, presenters Fearne Cotton and Jon Snow, activists Sinead Burke and George the Poet and Oscar winner Rachel Shenton, who signed a Peppa Pig story.
Save the Children UK ambassador Poppy Delevingne added: “It is an honour to have The Princess Royal reading the last book in our Save With Stories initiative. I was so delighted to launch the campaign here in the UK, not only to raise money for those so badly affected by the pandemic but because all these joyful readings have offered children and parents alike some respite and enjoyment during lockdown.”
Gemma Sherrington, executive director of fundraising and marketing at Save the Children said: “We are thrilled that Save With Stories has captured the imagination of families across the UK over these past 11 weeks. It feels right that after 50 years of support for Save the Children it is Her Royal Highness who read the last story. We are incredibly grateful for her unwavering support.
“We must also thank all of our famous friends who have brought these stories to life every day, along with all the publishers for providing the incredible array of books, and most importantly all those who have generously donated money to help us support the millions of vulnerable children here in the UK and across the world who are feeling the impact of Coronavirus.
“What started as a simple idea to entertain families across the country and raise money for children around the world has turned into an incredible shared experience and the money raised by Save with Stories will be vital for families in the UK who continue to face severe hardships including food poverty and a lack of essential items.”
In the UK, Save the Children is supporting families with a new emergency grants programme – providing household items and help with bills to families in crisis. And around the world Save the Children is working to keep essential programmes going – whether through strengthening infection prevention control in a child-friendly space, making sure health facilities have the right supplies or ensuring education programmes can continue remotely.
Save With Stories has been supported by the publishing community, with Scholastic, HarperCollins Children’s Books, Andersen Press, Walker Books, Egmont and inclusive children’s bookshop, Little Box of Books, supplying books from their libraries to be featured as part of the initiative.
The videos are currently available on Save the Children UK’s Instagram and Facebook pages. To donate visit savethechildren.org.uk/savewithstories or you can text STORIES to 70008 to give a one-off donation of £5*.
All money raised will support the most vulnerable families in the UK and around the world, helping to provide supermarket vouchers, essential household items, virus protection and early learning packs.
The Independent Retailers’ Confederation, a group of multi-sector trade organisations representing over 100,000 indie retailers throughout the UK, has announced a special category in its search to find Britain’s Best Small Shop of 2020.
The Best Small Shops Competition relaunches post lockdown on Independents’ Day, Saturday 4th July, celebrating the return of Indie Retail to UK high streets and shopping parades. In a new award category for its annual search, judges will be seeking entries from independents that are demonstrating innovation to combat the impact of COVID-19.
“It is widely recognised just how challenging it has been for many independent retailers during the months of Covid-19 lockdown – those who have had to close their doors and those considered essential who were able to trade throughout,” said Mark Walmsley, chair of the IRC.
“The pandemic has not only brought about challenges such as reduced income but also extensive complexities resulting in the evident need for re-invention.
“We have witnessed and continue to see extraordinary examples of innovation and ingenuity in being able to adapt a business to continue trading in some form. This is unsurprising, given the agility and commitment of independent retailers to their local communities and, in this extraordinary year, it is something we are determined to recognise and celebrate.”
The annual competition highlights the best of Britain’s independent retail sector, celebrating the commitment and creativity of independent retailers and the central role they play in their local communities.
Previous winners have included Bristol-based delicatessen Papadeli, the 2019 winner, and The Mainstreet Trading Company, a combined bookshop, café, deli and homeware shop based in St Boswells, in the rural Scottish Borders, which won in 2018.
“Despite the challenging retail environment, there is bountiful evidence that people value and believe it is important to support their local independent retailers,” added Walmsley. “These shops are at the heart of communities up and down the country, offering a meeting place, not to mention choice, diversity, innovation and genuine customer service.”
Entries for all award categories in this year’s competition close on September 11th. For more information about the Best Small Shops competition, click here: bestsmallshops.uk
Licensing International is looking to lend a helping hand to the industry’s small business employers that are struggling during the COVID-19 outbreak with the launch of its Small Business Global Grants Fund.
With small businesses making up 59 per cent of its membership, Licensing International recognises them as the ‘foundation of the industry’s communities, economy, and its lifeblood.’ The new Licensing International Small Business Global Grants Fund will therefore provide $5,000 grants to as many small employers across the globe as possible.
The aim is to create and maintain safe, healthy, and sustainable work environments in response to the global pandemic.
The grants program is being funded by donations made to Licensing International’s foundation (operating under the name LIMA Foundation). Companies wishing to contribute to the cause can do so either by purchasing an ad in the programme for the 2020 Licensing International Excellence Awards (taking place virtually on August 13th), or by making a direct donation to the Global Grants fund for any amount.
“If recent events have taught us anything, it’s how absolutely vital community is,” said Maura Regan, president, Licensing International. “The central idea behind the Licensing International Small Business Global Grants fund is industry supporting industry – our hope is that these supplemental funds will give businesses in need a boost to get through the next days and weeks so that the licensing community as a whole emerges from this global crisis stronger and even more united.”
Funds will be available to small businesses in the brand licensing industry that employ between three and 20 people and have been harmed financially by the COVID-19 pandemic. Applicants will be asked to submit a short narrative explaining the impact of COVID-19 on their business and the steps they have taken, or plan to take, to mitigate that impact, as well as financial statements from 2019 and the corresponding months in 2020 that show year-over-year impact on your business.
Applications for grants are now being accepted at www.LicensingInternational.org.
With the accountancy firm KPMG on standby to handle an insolvency process, Debenhams has reportedly failed to make a top-up payment to its pensions scheme this month, meaning that around 10,000 members could be worse off if the company enters administration.
On Friday, April 3rd, news emerged that the 242-year-old retailer was preparing to make a decision on whether to file for bankruptcy. This would be the second time the struggling retailer had fallen into administration, following a process 12 months ago when its current owner launched a CVA.
The potential administration would come just days after Debenhams put the vast majority of its workforce on furlough after it was forced to temporarily close its stores due to the coronavirus pandemic.
The department store has said that it intended to reopen the business after the lockdown and will continue to trade online for the time being.
However, for some 10,000 employees, an additional worry has emerged when The Sunday Telegraph reported that Debenhams had failed to make its April top-up payment – something that had previously been agreed with trustees.
A Debenhams spokesman said that the money had not been transferred as per the agreement, and that permission had not been sought from the Pensions Regulator.
The company’s pension scheme is also reportedly in significant debt.
It has been outlined, however, that filing a notice of intention to appoint administrators would be designed to protect Debenhams from legal claims from creditors during the COVID-19 pandemic. The Pensions Regulator has also recently announced that companies could access a three month pension contribution holiday over the COVID-19 disruption period.
It is expected that Debenhams will detail its decision surrounding administration this week. The retailer has been left with hundreds of millions of pounds of inventory on order from suppliers that it no longer requires due to the temporary closure of all non-essential shops to help stop the spread of COVID-19.
The team behind the Wizarding World of Harry Potter has detailed the launch of its Harry Potter At Home hub, a free online collection of child-friendly activities, videos, puzzles, illustrations, quizzes, creative ideas, and more.
The new hub has been designed to bring the Wizarding World into the homes of children and families across the globe as the world continues to fight the COVID-19 pandemic through self isolation and social distancing measures.
Harry Potter At Home has taken on the mission of celebrating reading for pleasure, as well as introducing children to Harry Potter and his friends for the first time. Visitors to the hub will find an array of games to keep users entertained, including special activity kits from Bloomsbury and Scholastic.
There’s also a collection of arts and crafts videos, as well as updated activities, quizzes, and articles. There will also be an ever-evolving collection of new resources that are easy for parents, teachers and carers of children to find and access.
“The Harry Potter At Home hub aims to help inspire you, your family, your friends, and especially children all around the world to read for pleasure and enjoy the stories, as well as bring some magic-infused joy and entertainment to all the family,” read a statement from the Wizarding World team. “But the hub is also a place for those of you who have loved Harry Potter for decades: a place for you to feel the warmth of the fire in the Gryffindor common room or a much-needed hug from Mrs Weasley.
“For over twenty years, Hogwarts has always been there to welcome you home, so whether you’re starting Chapter One of Harry Potter and the Philosopher’s Stone (Sorcerer’s Stone for our US readers) with your child for the first time, or you’re halfway through the audiobooks, or you’ve just finished the seventh book (again), the Harry Potter At Home hub is here for you.”
