Monday, July 27, 2020
With a "heat dome" centered over the middle of the United States, it may not seem like "Christmas in July". However, for the nation's toy retailers, Christmas has sure come early!
Toy sales were up a whopping 16% in the first half of the year compared to last as Americans did their best to occupy their time at home. Juli Lennett, NPD Group toys industry analyst said, "We would never see this kind of unprecedented growth - I've never seen it in my life."
Lennett expects toy sales will continue to climb in stride with the rise in coronavirus cases and get another boost from the strong possibility that schools around the country will return to online-based learning, delay school openings or stagger student schedules.
(Chart from cnbc.com, data from NPD Group)
Best regards,
Womack Investment Advisers, Inc.
WOMACK INVESTMENT ADVISERS, INC.
Oklahoma / Main Office: 1366 E. 15th Street - Edmond, OK 73013
California Office: 4660 La Jolla Village Dr., Ste. 100 - San Diego, CA 92122
Phone (405) 340-1717 - Toll Free (877) 340-1717