Tough case for the Doctor
TOY and merchandising firm the Character Group is getting ready for a tough Christmas by slashing its stock levels to meet reduced demand.
The group, brands of which include Doctor Who toys based on the popular BBC series starring Matt Smith and Karen Gillan as his assistant, Peppa Pig and Zhu Zhu Pets, said a cautious approach to Christmas would hit sales but shield profits.
Chairman Richard King said: “We’ve taken the decision not to have excess stock and be left with masses of product that isn’t selling.
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“The retail climate is tough and people aren’t spending as much even for kids’ toys. We have to reduce our risk and ensure that we emerge from the period with a good cash position.”
We’ve taken the decision not to have excess stock and be left with masses of product that isn’t selling
King said the company would meet annual expectations. Its shares fell 7p to 163¾p.
