allegedly...
The US Senate recently passed an amendment covering internet sales tax. The amendment, a rare bipartisan-supported measure formally called the Marketplace Fairness Act and nicknamed the ‘Amazon tax’, passed by 75 votes to 24, signalling strong support should the act come up for a vote as a stand-alone law. If such a law is eventually passed, it will be a big win for brick-and-mortar merchants, who have long complained that the current arrangement gives online merchants an unfair advantage, because they can avoid having their customers pay state sales tax if they don’t have a business location in that state. It strikes Allegedly that there is a growing political will to close some of the loopholes that certain online retailers have previously exploited, which might in some small part start to create a more level playing fi eld for other retailers. Hopefully the UK government will also play its part by ensuring that Amazon pays its fair share of tax in this country (as someone who has just settled his fi rst ever corporation tax bill, it seems only reasonable to expect Amazon, Starbucks, NPower and their ilk to do the same)....
Allegedly was sad to hear that Toys R Us recently let over 20 people go from its UK operation, including outdoor buyer Richard Beckwith, who had been with the retailer for over 20 years. With an impending relocation into smaller offi ces, it was always possible that some form of organisational restructure would coincide with the move. Allegedly hopes those affected fi nd other opportunities soon....
Toys R Us also made headline news in the States last month when it announced that it wouldn’t be proceeding with its planned IPO (i.e. making the transition from a private to a public company), almost three years after fi rst announcing the proposed move. The decision was blamed on “unfavourable market conditions” and the transition currently taking place within its senior management ranks.....
Over in Hong Kong, striking dock workers have caused considerable disruption at one of the main container terminals during a recent week-long pay dispute. The workers were said to be seeking a 20% pay rise, with sub-contractors apparently only prepared to offer a 5% increase, leading to a stand-off (how times are changing in the Far East...). Offi cials suggested that the action cost the dock owner an estimated £400,000 per day, which might lead to the conclusion that they would do their utmost to resolve the dispute swiftly. Nevertheless, some shipping companies have been taking precautions, fearing that the strike could drag on for some while yet. You have, as they say, been duly warned....
Disney is continuing with its quest to dismantle the 94 Toyworld
previous Lucasfi lm set-up, the latest move being the closure of the celebrated Lucas Arts video games studio, in favour of moving to a licensee-driven model. After the recent announcement of the cancellation of the Clone Wars series, it seems clear that Disney has defi nite plans for the Star Wars franchise, and they appear to be markedly different to the previous owner’s vision for the brand....
Somewhat inevitably, several of the major supermarkets elected to run high-profi le toy promotions over the Easter period: Allegedly spotted the Sainsburys toy sale fi rst, in which a broad selection of lines were being offered at 25% off. The same evening, a trip to Tesco revealed that their old-school, aggressive ‘50% off’ sale was back with a vengeance. Without mentioning specifi c brands, just in case they vary geographically, it’s fair to say that a number of high profi le toy companies and ranges were present and correct. After last year’s rumoured below-par performance from the toy department, it seems that Tesco has decided that a return to aggressive price promotion is the way to regain its trading mojo in 2013....
The latest round of retail trading reports reveals a ‘decidedly mixed’ theme: Mothercare like-for-likes were down by 3.6%, but chief executive Simon Calver professed himself to be “looking ahead to the new year with confi dence,” claiming that the retailer is on what he refers to as “a fi rmer footing.” WH Smiths like-for-likes were also down, but group pre-tax profi t was up by 5% - which, even as a small business owner, Allegedly knows is what really matters....
Meanwhile, over at Tesco, annual profi ts have fallen dramatically for the fi rst time in almost 20 years, with the company closing its US chain of 199 Fresh and Easy shops at a cost of a cool $1.2 billion. However, UK like-for-likes improved marginally, Christmas trading was described as ‘strong’ and the overall fi gures were slightly better than had been expected, so it’s certainly not as bad as the headline-grabbing fi gures initially suggest....
Retail numbers may continue to be mixed, but number one global toy company Mattel’s profi ts jumped to
This month Toy World will be...
Heading to Harrogate for the Toymaster Show. Dining in Henley with the Fence Club. Celebrating the 5th
The June edition will be published on 4th June.
anniversary of Moshi Monsters with the Mind Candy team. Hoping that the mighty Watford FC are successful in the championship play-offs.
$38.5m for the January to March quarter, resulting in the value of its shares hitting a 15-year high. Sales of Barbie and Fisher-Price both fell, but sales of newer branded dolls such as Monster High – grouped under the Other Girl Brands category – rose by a whopping 52%. Worldwide sales were 7% higher than a year ago, which also represents a strong performance given the global economic climate....
Congratulations to Robert and Jan Mann on the arrival of their fi rst granddaughter Sophia Kate a few weeks back. Mum (Carly), Dad (David) and baby are all apparently doing well. Also celebrating this month is Rainbow Designs Ali Coates, who has just got engaged, with a November wedding on the cards....
Toymaster has announced the theme for the parties at its show in May: Wednesday is ‘posh night’, with a black tie dress code (or plain ‘black and white’ will suffi ce for those who can’t be bothered to drag their djs up to Harrogate). Tuesday is a far more intriguing proposition: as this year is Toymaster’s 21st May Show, they are encouraging people to dress up either in what they were wearing 21 years ago, or what they were wearing when they were 21. This could turn out to be a lot of fun, and quite possibly rather an eye-opener. Allegedly has something of a dilemma: my fashion style in 1992 was nothing out-of-the-ordinary, but when I turned 21 in 1983, it was the height of the New Romantic era. I’m just not sure it’s a look I could carry off now (Allegedly being more the ‘Mildly Rotund White Duke’ than the ‘Thin White Duke’ these days). Decisions......
Disney has revealed that a new Star Wars fi lm will appear yearly from 2015, alternating between new episodes and spinoff character fi lms. Initial reaction to the announcement has been mixed to say the least: a writer for Forbes magazine commented: “The Twitterati are already concerned that there will be a Star Wars overload, that the movies will be ‘force marched’ out as fast as Disney can make them.” Although, in fairness, having been given the opportunity to see a preview screening of Iron Man 3 recently, Allegedly can confi dently say that people will love it, and if that is any yardstick to go by, perhaps Star Wars fans are being a little hasty in voicing their negativity at this stage.
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