The company believes retailers like Walmart and Target will help fill the void, as first-quarter revenue and profit fall short of estimates.

The demise of Toys R Us took a toll on Hasbro last quarter, but the company says the worst is behind it.

Hasbro posted declining sales in all business areas, after the world’s largest toy chain announced the liquidation of its operations in the US and UK. Hasbro’s shares initially declined, only to rebound after CEO Brian Goldner told investors the impact would lessen going forward as retailers, such as Walmart and Target, likely expand their toy offerings.

“We’re working aggressively around the world to put the impact of Toys R Us behind us,” Brian said. “Importantly, this is not something happening to our company.”

The Toys R Us bankruptcy has presented a hurdle for the company, yet Hasbro reiterated on Monday that free-cash flow this year would be $600m to $700m and that operating profit would be at the same level, a positive sign. Brian also said the company stopped shipping to Toys R Us in January and that the liquidation of the chain’s US stores will be completed this quarter.

Shares of Hasbro gained as much as 3.7% in New York Monday, after falling as much as 4.6%. The stock had slid 8.9% this year through to Friday’s close.

The Toys R Us effect could be clearly seen in Hasbro’s first-quarter results. In North America, sales sank 19%, while revenue in Europe declined 28%. The liquidation also generated expenses of $61.4m.

Brian has said that revenue will take a hit this year, but declined to give more specific sales guidance. He said the company would update investors later this year.

“The opportunity to absorb all of the Toys R business is present for our remaining retail partners,” he said. “We are just building those plans to do that, but it takes some time.”

Gifting company Wild & Wolf has been awarded The Queen’s Award for Enterprise: International Trade 2018.

The Queen’s Awards for Enterprise is one of the UK’s most respected business awards. Judged solely on merit, the awards recognise and celebrate business excellence across the UK. First instigated by Royal Warrant in 1965, and now in its 52nd year, the esteemed Queen’s Awards for Enterprise has a long history of recognising exceptional UK businesses.

The official announcement was made on Saturday 21st April by Her Majesty The Queen, on her 92nd birthday.

Wild & Wolf has been recognised for its excellence in International Trade, demonstrating substantial international growth in overseas earnings and commercial success within its sector. It is one of 238 organisations nationwide to be presented with the prestigious accolade.
Founded in 2005, and now employing 150 people globally, Wild & Wolf creates design-led gifts and lifestyle products across a wide portfolio of popular licensed and own IP brands.

Paul Taylor, CEO at Wild & Wolf, commented: “It is a great honour to have been awarded the prestigious Queen’s Award for Enterprise: International Trade. We’ve experienced tremendous growth in our international trade, particularly in the last three years. Once a predominantly UK driven business, by the end of 2018 two thirds of our business will be outside of the UK, with the USA being our single biggest market. We hope that winning this award will further drive prosperous international growth in markets such as Asia and in the EU. This coveted award is testament to the fantastic team we have here at Wild & Wolf, and we’re proud of our contribution in raising the global profile of great British design.”

Two new regional distribution centres are to be built for Aldi and B&M, which should create about 1,400 jobs.

The site is on land off Hardwick Hill at Elstow near Bedford and the warehouses are due to open in 2019.

B&M said its facility will be “one of the largest distribution facilities in the UK” at 91,000 sq m (22 acres), creating about 1,000 jobs. Aldi is building a 82,000 sq m (20 acres) warehouse.

The two distribution centres, including a £100m B&M warehouse, will be built close to the A6 just outside Bedford.

Simon Arora, chief executive of B&M Retail, commented: “Our continued nationwide growth has allowed us to invest approximately £100m in what will be one of the largest distribution facilities in the UK. We are delighted to be coming to Bedford and will be recruiting in 2019 as the building approaches completion.”

Matthew Barnes, CEO of Aldi UK, added: “The excellent transport links and infrastructure in the area made it an obvious choice for our new distribution base as we move towards our long-term ambition of 1,000 UK stores by 2022.”

Planning permission has been granted by Bedford Borough Council.

Somerset-based online toy retailer Farm Toys Online is celebrating its tenth birthday this year.

The business has grown significantly over the past decade and now boasts a full time team of five, with a number of seasonal workers helping to pick and pack orders during peak selling periods such as Christmas.

Julia Lowe, a mum of three who set up Farm Toys Online in 2008, commented: “What an incredible and rewarding feeling it is to see your business mature to 10 years. It feels like all the dedication, hard work and perseverance has paid of. Despite Amazon bringing about increased competition, we’ve continued to grow from strength to strength because we’ve stuck to what we know – farm toys. If it is on a farm we have a toy version of it, and our customers love that about us”.

Farm Toys Online prides itself on happy employees, satisfied customers and a family feel. Julia added: “We also have excellent relationships with our suppliers. Not only do we work with some well-known international brands like Britains, Siku, Bruder, Rolly and Breyer, but we also work with some smaller British ones too like Brushwood Toys, which is run by a lovely Devon farmer, and Tractor Ted, whose founder was at agricultural college with my husband.”

Looking to the future, Julia said: “We had our biggest Christmas ever last year and have lots of plans in the pipeline to make this one even better, including the release of our very own Farmer Freddie book.”

Here’s to another 10 years and even greater success for Julia and the Farm Toys Online team.

Hammerson, owner of Birmingham’s Bullring, is no longer urging its shareholders to vote in favour of acquiring its rival.

The news comes months after Hammerson announced an all-share offer for intu, owner of the Trafford Centre in Manchester. The proposed £3.4b takeover would have created the UK’s biggest property company, worth £21b.

Hammerson stated: “The proposed Intu acquisition is no longer in the best interests of shareholders.”

In early morning trading in London, shares in Hammerson were up by 3.57%, but those of Intu were down by 7%.

Among the reasons Hammerson gave for withdrawing its recommendation was that the stock market’s view of the retail property market had “deteriorated” since the turn of the year.

“This perception has been intensified by market concerns over the extended period of time that it would take to complete the transaction and realise longer-term returns from the Intu acquisition,” it said.

The combined group would have been led by Hammerson chief executive David Atkins and chaired by its chairman, David Tyler.

Hammerson’s offer for Intu will lapse if its shareholders do not approve the purchase when they meet.

The development comes not long after French shopping centre operator Klepierre abandoned a £5b bid for Hammerson.

Hammerson also owns the Bicester Village designer outlet and London’s Brent Cross shopping centre, while Intu also owns the Lakeside shopping centre in Essex.

In newly filed accounts for the year to 31st January 2018, the company posted a turnover of £49.9m, down from £53m.

Pre-tax profits have also fallen from £547,000 to £323,000 during the same period.

A statement signed off by the board said: “2017 calendar year was a year when the toy market declined by 3% following three years of growth.”

“Despite this reduction, Toymaster Members, who traded on a like for like basis, had a fairly successful year with 56% reporting sales at or above 2016 levels.”

“These sales increases continue to demonstrate the relevance to the consumer of independently owned high street toy stores.”

Range has a focus on easier parenting and features a fresh colour palette and new designs.

The new collection sees a range of new products such as the Garden Spiral, which wraps around a pram or car seat handle to entertain little ones on their travels and features a soother compartment for storage.

The Watermelon Sunshade attaches to the pram easily, creating an airy, shaded space for babies to doze in without overheating. It also provides a UPF of 50+, and includes an added mobile for entertaining babies that are awake.

The new range also features the Mini Moon Pram Mobile, with three characters and a sky scene to encourage babies to explore the world.

Taf Toys also introduces larger products such as the Outdoors Play Mat into the range, which encourages safe and fun outdoor play, and is big enough for both parent and baby to spend quality time together.

With low pack sizes across the range and low minimum order quantities, the range is available to order from Halilit today. Call 01254 872454 or contact the team via e-mail on sales@halilit.co.uk.