TIA fights for safety standards 'harmonization'
April 11, 2008—When Washington state Gov. Christine Gregoire (D) signed an expansion of the state’s Children’s Safe Products Act in to law earlier this month, the toy industry’s lobbying efforts assumed a new posture: working with NGOs (non-government organizations), lawmakers and state officials to resolve two sections that were vetoed, as well as the implementation of the new law.
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Alex crafts branded stores in South America
March 4, 2008—An effort that began as outright retail rejection about three years ago, morphed into an exercise in brand building and now might well result in branded stores across an entire continent for Alex, the Northvale, N.J.-based maker of arts & crafts kits.
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Cash-starved Sharper Image to shrink
Feb. 20, 2008—Sharper Image has filed for Chapter 11 bankruptcy protection citing a liquidity crisis, increased competition and a tightening overall economy that produced weak holiday sales.
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Up Close: IPI for Sale? It's All Grand, in Varda's Opinion
Feb. 7, 2008—In an exclusive interview, International Playthings' president Mike Varda tells Playthings that contrary to industry buzz, it's his "belief" Grand Toys will "stay together."
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Toy stocks pounded, cautious days ahead
Jan. 16, 2008—Toy industry stocks have shown weakness in the new year—showing an average decline of 14 percent as of last week, among five leading companies—and that weakness is accelerating, according to long-time industry analyst Sean McGowan, managing director at Needham and Co. Prices have dipped further since his comments.
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Small World's High Hopes
CULVER CITY, Calif.—In the post-bankruptcy resurrection following the sale of its remaining assets to an investors group last October, Small World Toys has been moving to repair the damage the company suffered in relationships with once-faithful vendors and retailers, re-motivate its sales force, and begin rebuilding the corporate infrastructure that peeled away as SWT foundered.
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Leading By Example
When the Toy Industry Association decided to move the October Fall Toy Preview to Dallas after multiple attempts to find a new showroom building in New York failed, it felt for many in the industry like the ultimate abandonment by their trade group. They'd be in Dallas with reluctance, they said at the time—but only because they had no choice but to follow the industry there.
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Numbers in, Dallas decision pending
October 24, 2007—As the Toy Industry Association's board prepares to vote later this month on whether to make Dallas the permanent home of the Fall Toy Preview, the association is reporting that the event this month met or exceeded most critical benchmark criteria.
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News Analysis: Small World fights for life
LOS ANGELES—Months before it filed for bankruptcy protection Aug. 2, Small World Toys was a company visibly in distress as it desperately sought to staunch a deepening liquidity crisis through new borrowings and renegotiated loan covenants with its secured lenders, according to documents filed with the U.S. Bankruptcy Court here and the Securities and Exchange Commission.
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Mattel to announce more recalls
August 14, 2007—Mattel is expected to announce more product recalls this morning, its second announcement within the past month.
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LeapFrog stock trips
August 2, 2007—Shares of LeapFrog Enterprises tumbled nearly 14 percent in midday trading after the company reported further declines in sales and a widening net loss during its second quarter.
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Mattel's global Q2 soars; U.S. drags
July 16, 2007—Mattel’s gross margins rose five times more than expected and Barbie sales soared to their highest levels in nearly four years as the company reported its second quarter results this morning.
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Suit charges TRU with discrimination
July 3, 2007—A discrimination law suit has been filed in federal court against Toys "R" Us, charging that it bypassed a Hispanic employee for an entry level management trainee position in favor of less qualified candidates.
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Build-A-Bear seeks ‘strategic alternatives’
June 28, 2007—Build-A-Bear Workshop has retained Lehman Brothers to seek out strategic business alternatives in an effort to “enhance long-term shareholder value.”
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Wal-Mart scales back SuperCenter growth
FAYETTEVILLE, Ark.—The country's number one toy-seller is cutting back some of its growth for the remainder of the year. At its annual shareholders meeting earlier today, Wal-Mart said it will curtail SuperCenter growth in the current year by up to 29 percent, following with more modest cuts in subsequent years.
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Wal-Mart shareholders gather
BENTONVILLE, Ark.—As shareholders and store employees gather for Wal-Mart’s annual meeting Friday a critical question lurking in the background is just how strongly will the world’s largest retailer reassert its place as the low-price leader?
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Not so scary changes at FAO
NEW YORK—FAO Schwarz has become the exclusive U.S. beachhead for the debut of the Not So Scary Monsters licensing program. Company officials on Tuesday formally unveiled the program, which hit its stores May 1, the latest in a series of merchandising initiatives being undertaken by the landmark specialty retailer.
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Scott dissatisfied with WMT results
BENTONVILLE, Ark. —While Wal-Mart’s domestic stores lagged, the retailer’s international stores and Sam’s Club warehouse operation pulled the company to an 8 percent gain in net profit on an 8.3 percent pick up in net sales during the first quarter, the company reported Tuesday. But U.S. same store sales remain challenged.
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Wal-Mart, Target sales soft in April
NEW YORK—Same-store sales fell in April for the nation’s No. 1 and No. 3 toy retailers. Wal-Mart reported a decline of 3.5 percent in stores open at least a year, while Target reported a comp store decline of 6.1 percent.
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Toys 'R' Us will file late 10-K
NEW YORK—About a week after publicly releasing its fourth quarter and year-end results, Toys "R" Us told the Securities and Exchange Commission that it "has a material weakness in its internal controls over income tax accounting" and will not be able to file its annual report on form 10-K on time.
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