For the second quarter, Mattel Inc. reported flat worldwide net sales in constant currency, and worldwide net sales down 7 percent, reflecting the impact from changes in currency exchange rates.
The 15th Annual Toy of the Year (TOTY) Awards ceremony will be held at 6 p.m. on February 13 at the Grand Hyatt Hotel in New York City. The evening event, which kicks off the North American International Toy Fair, will include a cocktail networking reception with hors d’oeuvres and dinner, followed by the awards ceremony.
Over the course of the event, presenters will announce the TOTY winners in 12 categories, as well as the People’s Choice Award, which is based solely on consumer votes, and the overall Toy of the Year Award, which is selected by mass and specialty retailers, journalists, and Toy Industry Association (TIA) members. The winners will be chosen from more than 600 products submitted for consideration during the open call for nominations this fall. Voting is currently open for all TOTY finalists at www.toyawards.org. [Read more...]
Last Thursday, Mattel Inc. reported third quarter financial results, including net income of $331.8 million for the quarter, or $0.97 per share. This includes a negative impact of $0.05 per share from Mega Brands integration costs and a tax benefit of $0.04 per share. This compares to last year’s third quarter net income of $422.8 million, or $1.21 per share, which included a tax benefit of $0.05 per share.
For the quarter, net sales were $2.02 billion, down 8 percent compared to $2.21 billion last year, while on a regional basis, third quarter gross sales decreased 7 percent in the North American region. For the international region, gross sales decreased 7 percent, including an unfavorable impact of currency exchange rates of 1 percentage point. [Read more...]
Playrific, a leading digital media aggregation service for children, has closed an oversubscribed $1.7 million round of equity financing. The funding was lead by Golden Seeds, a network of angel investors dedicated to investing in early stage companies founded and led by women, with participation of investors from a variety of other angel groups including Launchpad Venture Group, Walnut Ventures, Northeast Angels, and Maine Angels. [Read more...]
The Toy Industry Association (TIA) is accepting votes for the 2011 Toy Industry Hall of Fame, to take place in conjunction with the Toy of the Year Awards during Toy Fair Week in New York City. Voting started yesterday and will run until August 27, with the winners awarded on February 12.
Living nominees include:
•Fashion Institute of Technology Toy Design Department Chair Judith Ellis
•Former Radica Games, Ltd. CEO Patrick Feely
•Funrise Toys, Ltd. Founder and CEO Arnie Rubin
•Director Steven Spielberg
•Hasbro, Inc., Chairman Alfred Verrecchia
Posthumous nominees include:
•Russ Berrie, Inc., Founder Russell Berrie
•Duncan Yo-Yo Founder Donald Duncan
•Briarpatch, Inc., Co-founder Martine Redman