Deathwatch: Hornby issue post-Olympic profit warning
One aspect of the ‘Olympic legacy’ could be the demise of one of the UK’s most-loved brands, with Hornby announcing that it won’t be making a profit this year. The reason? They got stung on a swathe of London 2012 merchandising that they failed to flog.
It’s not quite the death knell for the company yet – after all, it made a fairly healthy £4.5m profit last year, but Hornby bean-counters have warned shareholders that it only expects to break even in the 2012-13 financial year.
Hornby owns the Scalextric and Corgi brands, and gained the licence to sell a whole bundle of Olympic merchandising, including replica mascots and a Scalextric velodrome. You can currently see some of that stuff being flogged off in your local branch of Sainsburys for as little as 1p a go.
So Mo Farah’s got his gold medals and everyone’s got their warm, cosy Olympic memories but if it all leads to the death of Scalextric, we’re going to be frigging livid.