8:51 h / 2021/05/06
Spin Master Corp. kicked off 2021 with a solid first quarter
The Toronto-based toy and entertainment company reported that gross sales spiked 21.6% in Q1 to $294.7 million versus $242.3 million during the same period last year. According to the company, robust sales in preschool, girls, and outdoor categories led the charge. Total revenue grew 39.3% to $316.6 million versus $227.3 million in the first quarter of last year.
Sales of outdoor toys increased 47.9% in Q1 followed by a 33% boom in preschool and girls toys. Spin Master says that increased sales of PAW Patrol and Present Pets led the category while Twisty Pets, Candylocks, Owleez, and Hatchimals items continued to decline.
Monster Jam, Supercross, Tech Deck, and Bakugan fueled a 12% gain in the boys category that was partially offset in declines from DC Comics licensed products and DreamWorks Dragons lines.
Finally, activities, games and puzzles, and plush sales increased 9.2% driven by Rubik’s products and items within the games and puzzles portfolio.