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Trump Tariffs Squeeze Toy Maker's Festive Sales
17 Jan
Summary
- Character Group sales dropped 11% in four months before Christmas.
- US market, crucial for one-fifth of sales, impacted by tariffs.
- Profits are projected to more than double in the current year.
Character Group, a prominent toy designer and distributor, navigated a challenging market during the recent festive period, reporting an 11 percent decrease in sales for the four months preceding Christmas. The company's performance was significantly hampered by the economic impact of Donald Trump's tariffs, which have severely affected its operations.
The United States represents a substantial portion of Character Group's business, accounting for approximately one-fifth of its total sales. Many of the products sold in this market are imported from China, making them susceptible to trade policy changes and increasing costs.
Despite the bleak festive season, the company holds an optimistic outlook for the remainder of its current fiscal year. Character Group projects an improvement in sales during the second half of the year and anticipates that its profits will more than double, suggesting a strong recovery is expected.
