Funtastic shuns giants

Toy distributor Funtastic will turn its back on big retailers such as Kmart, Big W and Target after the merchants "lost their nerve" ordering stock at Christmas.

Toy distributor Funtastic will turn its back on big retailers such as Kmart, Big W and Target after the merchants "lost their nerve" ordering stock at Christmas. The company reported net profit of $9.3 million for the six months to January 31, driven largely by a one-off $3.2 million gain from the closing of a 2012 Lego deal.