Construct a Bear Workshop lowers complete year income forecast as Brexit looms
Unresolved concerns around Brexit have forced Construct a Bear Workshop to decrease its complete year income forecast.
The UK’s planned exit from the European Union this March has ‘negatively impacted consumer confidence,’ the company has stated amid its current announcement.
As a outcome, it now expects sales outside of the US marketplace to drop by in between 17 per cent and 20 per cent, ‘largely isolated to the UK.’
Other factors have also affected revenues like currency exchange prices and the introduction of the EU Basic Data Protection Regulation which has impeded our marketing and advertising communications.”
It also mentioned that sales of themed stuffed toys had fallen due to significantly fewer loved ones-centric, character based movies.”
For the complete year for February 2nd 2019, income is now forecast to attain among $335 million and $340 million. That compares to earlier expectations of in between $340 million and $345 million.
However, Construct a Bear expects sales to enhance this year with the release of the film How to Train Your Dragon: The Hidden Planet and the sequel to the popular animated movie Frozen.
Build a Bear chief executive Sharon Value John, stated: We continue to think that the Create a Bear brand remains robust.”