ECONOMY

Toy retail sector is no child’s play

The toy store sector in Greece saw gains turn into losses last year, following almost a decade of growth, according to an industry report by the ICAP Group.

Toy and nursery retailers have seen a concentration in their sector along with a major increase in Chinese imports, while traditional points of sale have dropped dramatically in number.

Toy sales posted an annual drop of 4 percent in 2010, against average yearly growth of 9.8 percent from 2002 to 2009, the report showed.

The financial reports of the sector?s seven main chains had already revealed a general drop in operating results and profits in 2009, of 13.85 percent and 18.48 percent respectively, but it was 2010 when sales registered a general drop.