Spielwarenmesse: Spin Master Q2 sales dip 10.9% as POS increases begin

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Spin Master Q2 sales dip 10.9% as POS increases begin

06. August 2020 10:35 h

Spin Master Corp. faced a familiar plight for the second quarter of 2020 as the toy and entertainment company battled against the challenging conditions of business in the COVID-19 era

By toybook.com

  • While the toy industry as a whole showed a 16% sales increase for the first half of the year, major toymakers are experiencing declines in sales and overall revenue as retailers moved through stock on hand as certain categories spiked in waves.

The Toronto-based toy and entertainment company reported a 10.9% sales decrease in Q2 alongside a 12.4% decline in overall revenue versus the same period last year. Sales in North America increased slightly, while sales in Europe dropped 21.6% and the rest of the world had a whopping 42.4% decline. Bright spots include a 19.2% sales increase across activities, games and puzzles, and plush, and a 9.1% sales increase for outdoor toys. Gross product sales for the first half of the year were down 5.9%.

Spin Master says that sales declines in PAW Patrol, Twisty Pets, DreamWorks Dragons, Bakugan, and Hatchimals have been offset by growth in other lines, including DC Comics-licensed products, Tech Deck, Monster Jam R/C, Kinetic Sand, and its games and puzzles portfolio.

Spin Master has a fresh product lineup waiting in the wings for fall that should benefit from the increased traffic at POS that retailers and other toymakers are reporting.

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