Revenue up 2.3% for Spin Master in Q3 results

Spin Master
Spin Master has seen a revenue increase of 2.3% in its Q3 2018 results, jumping from $606.1m in Q3 2017 to $620m in the third quarter of this year.

“In a quarter where sales were affected by the uncertainty arising from the demise of Toys R Us, we are pleased with our operating and financial results for Q3 2018,” said Ronnen Harary, chairman and co-chief executive officer of Spin Master.

“We saw particularly strong growth in our Activities, Games & Puzzles business segment, further bolstered by our newest acquisition, Gund. Looking forward, we are excited about our upcoming innovative product line integrated with entertainment content, to growing our franchises globally including the relaunch of Bakugan and to launching the Monster Jam and How to Train your Dragon licensed product lines.”

Gross product sales in the Activities, Games & Puzzles segment increased by 29.9%, primarily driven by sales of Gund and increases in Cool Maker, Kinetic Sand and Spin Master’s games portfolio. This was partially offset by decreases in Bunchems, Doctor Dreadful and licensed Build a Bear products.

In the Boys Action and High-Tech Construction segment, gross product sales decreased by 16.6%, due to decreased sales of Meccano and Star Wars licensed merchandise. This was partially offset by increases in Boxer and Fugglers.

Gross product sales in the Remote Control and Interactive Characters segment decreased by 9.9%, primarily due to decreased sales of Air Hogs, and Zoomer, partially offset by increases in Hatchimals Colleggtibles and Luvabella.

In the Pre-School and Girls segment, gross product sales decreased by 3.4%, driven by decreased sales of Paw Patrol, ZhuZhu Pets and Chubby Puppies, partially offset by sales of Party Popteenies and Twisty Petz.

Elsewhere, gross product sales in the Outdoor segment decreased by 2.1% in Q3.

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