U.S. toy manufacturers sales prospects grim Christmas
The two major U.S. toy maker announced Monday 3rd quarter results and performed poorly, and indicated that during the Christmas shopping season, children's toys to make money is not easy.
Difficult optimistic economic downturn toy sales
The United States and Thailand (MattelInc.; the New York code: MAT) and rival HasbroInc. (The New York Code: HAS), said the fare increase to offset the rising costs of goods help but business is still in serious condition because of the economic slowdown may be hit. Mattel Chairman and Chief Executive Yi Kete (BobEckert) conference call with investors, said: "Some parents buy toys for their children this year will carefully ponder, which I understand."
The United States and Thailand hope ElmoLive, Barbie Diamond Castle (BarbieDiamondCastle) and other toys and DVD movies can be linked to post-holiday shopping promotions. Hasbro is currently promoting mechanical animals FurrealFriends, but sales expected to be less expensive goods Model Toys And other cheap goods.
Released Monday by the United States and Thailand results, quarterly earnings have rebounded somewhat but are still lower than analysts expected. Hasbro's net profit declined, but the quarterly earnings and revenue than analysts expected.
Mattel's quarterly profit was 238.1 million U.S. dollars per share, 66 cents, up less than 1%; is 236.8 million U.S. dollars last year, 61 cents per share. Analysts expected 71 cents per share. Income is 1.95 billion U.S. dollars, compared with the same period last year grew 6%, largely Fisher-Price and AmericanGirl toys sold. Weakening of the Canadian dollar has resulted in a revenue increase of 2%. Analysts expected sales of 19.6 billion U.S. dollars.
Mattel toys will increase in the quarter, compared with last year, the number of recycled products and fewer, but still not enough to offset rising costs, especially in resin costs, increase labor wages in China, the Chinese currency and product testing costs Strong Tendency increase. The company has plans to increase again in 2009.
StifelNicolaus & Co. Analyst ancient forest (DrewCrum) Monday given to the company's rating to "absorb" that the recovery in 2009 will be.
Rival Hasbro said the United States and Thailand, to the September 28 cut in quarterly profit fell nearly 15% to 138.2 million U.S. dollars, 89 cents per share; last year was 161.6 million U.S. dollars, 95 cents per share. If you do not calculate the tax benefits last year, net profit should be increased by about 5%. Revenue rose 7% to 13 billion. Performance than analysts forecast earnings of 86 cents per share, 1.27 billion revenue forecast.
Hasbro added products increase in September. The company said full year, cutting expenditure increases should be able to offset rising costs, product testing and the stronger Chinese currency cost.
The Christmas shopping holidays, Harbro expected LittlestPetShop, Nerf toys, etc. will be sold, other FurrealFriends also selling, but also stressed that prices of most products is not more than 20 U.S. dollars.
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