TORONTO — Spin Master Corp.'s chief executive is optimistic the year will end on a high note for the toy market, despite shoppers sticking with their deal-hunting behaviours.
In the fall, Rangel expects products from Ms. Rachel, a social media personality who created the children's music series "Songs for Littles," to perform well.He also sees strength coming from new theatrical-based toy lines under the Superman, Dragons and Gabby's Dollhouse brands. Over the same period, the Toronto-based company's toy revenues tumbled to US$340.9 million compared with US$346.3 million a year earlier.
The entertainment portion of its business, however, saw gains. It brought in US$36.4 million in revenue compared with US$33.9 million a year prior. Melissa & Doug, a brand Spin Master bought in 2023 that is focused on wooden toys and make-believe playthings, is set to launch a construction toy line called Blockables in the fall.
Chief financial officer Mark Segal, who announced Tuesday that he will retire in the first half of 2025, also spoke positively of upcoming quarters, saying there is a "large amount" of fresh content on its way, including some from "Toca Life World."
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