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Strong Q2 results encourage Spin Master’s global expansion efforts

Spin Master has seen revenue increase 12.6 per cent to $311.5 million in its Q2 financials compared to the same period last year.

Gross product sales have grown 4.6 per cent to $296.2 million, driven in large by the continued success of Hatchimals Colleggtibles and its games and puzzles portfolio.

Gund, new launch Part Popteenies and Cool Maker branded products have each contributed, only partially offset by declines in Air Hogs and Zoomer.

The firm has stated it is now well positioned for continued future growth.

Ronnen Harary, Spin Master’s chairman and co-chief executive officer, said: “We are pleased with our operating and financial results for the second quarter, in which we achieved solid revenue and profit growth under challenging industry circumstances.

“Looking forward to the balance of 2018 and beyond, we are excited about our upcoming innovative product launches as well as our new entertainment content. Our ability to create multiple consumer touch points, including physical products, traditional and innovative entertainment content and mobile games, is resulting in greater attachment to our brands and franchises.

“This has positioned Spin Master well for continued future growth.”

The quarterly performance has highlighted Spin Master’s success across four key growth strategies in what has been a challenging second quarter owing to the liquidation of Toys R Us in the US and UK.

“We continued to see strong global POS growth this quarter, evidencing steady consumer demand for our innovative brands and entertainment franchises,” added Ben Gadbois, global president and chief operating officer for Spin Master.

“International expansion continues to be a core part of our growth strategy and we are excited about the potential of our new direct markets, which we just announced for 2019, including Russia, Switzerland, Austria and Greece.

“The integration of Gund is going very smoothly. We continue to look for new acquisition opportunities that may arise in the current shifting landscape.”

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