Corporate Brand Toys & Games 

Mattel Q2 Earnings: Sales down 14%, Barbie and Hot Wheels show growth

Mattel Inc reported second quarter 2018 financial results, posting a 14 per cent fall in its second quarter sales revenue. “Mattel is a company with great potential. We see a lot of opportunities, but there has been a big discrepancy between our financial performance over the last few years and where the company should be,” said Ynon Kreiz, Chairman, and CEO of Mattel. For the second quarter of 2018, net sales were down 14% as reported and in constant currency, versus the prior year’s second quarter. Gross sales were down…

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Corporate Brand Toys & Games 

Smyths Toys to take over ‘Toys R Us’ in Germany, Austria and Switzerland

The Irish toy retailer Smyths Toys Superstores has signed a deal to take over ‘Toys R Us’ in Germany, Austria and Switzerland, according to a report in Global License. The transaction was revealed by the German arm of the insolvent retailer on Saturday. No financial details were disclosed yet. However, no official confirmation has come from both the parties. The deal is subject to the approval of the US court and relevant authorities. As per the deal, Smyths will acquire 93 shops and four online stores. The Irish company, Smyths,…

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Corporate Brand Toys & Games 

MGA Entertainment CEO submits bid to buy ‘Toys R Us’, gets rejected

A month after ‘Toys R Us’ announced its decision to shut-down all of its stores in the US, UK and Canada to pay off its debts, Isaac Larian, chief executive officer, MGA Entertainment, has submitted a formal bid to buy the retailer in both US and Canada. According to a report in the License Global, Larian has made a USD 675 million offer for the US arm of the company, whereas, has offered USD 215 million for the retailer’s Canadian counterpart. According to MGA Entertainment, the funds would come from…

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Corporate Brand Toys & Games 

Toys R Us unveils final store closures. Check out the dates here

Toys R Us have confirmed the closing dates of the final Toys R Us stores in the UK. Earlier, the company had confirmed it was no longer accepting returns for refunds and shoppers can no longer make orders on its website. The joint administrators of Toys R Us have announced that the final 75 stores in the UK will close by Tuesday 24 April, affecting more than 2,000 jobs. The 2,054 employees have been told and will be paid up to and including their last day of work. Stores will…

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Toy Licensing 

Toys R Us successful in staving off collapse

Just yesterday we had reported that in its move to stave off a collapse, Toys R Us had proposed a rescue plan. Now, it has come to light that after creditors backed the rescue plan, the UK retailer has come out successful. The retailer’s creditors met yesterday to vote on the rescue plan, which hinged on a resolution of the pension deficit. Toys R Us’s UK staff pension scheme has a deficit of more than £25m. The PPF said the new offer from the company was composed of a payment…

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Toy Licensing 

Toys R Us proposes deal that could wipe out its pension deficit within a decade

In an eleventh-hour attempt to stave off a collapse threatening 3,200 jobs, Toys R Us has proposed a deal that could wipe out its pension deficit within a decade. According to a report, the company made the proposal at a meeting with the Pension Protection Fund lastTuesday. The offer that includes an injection of a sum greater than a planned payment of £1.6m into its pension scheme in January and March would reduce toys R Us’ deficit recovery plan from 15 years to ten years and. The offer however falls…

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Toy Licensing 

Toys “R” Us in association with Wicked Cool Toys providing relief to Puerto Rico

We all know that Puerto Rico was affected by Hurricane Maria on September 20. To provide relief to those affected, Toys “R” Us is working along with toy company Wicked Cool Toys \to bring toys to children in Puerto Rico. The hurricane left millions without homes or electricity when it made landfall on that fateful day. Toys “R” Us has partnered with musical artist Lin-Manuel Miranda, Telemundo, Hispanic Federation and R.Evolución Latina to launch Toys 4 Puerto Rico. The toy drive that was launched on December 12, aims to send…

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Toys & Games 

Toys ‘R’ US’s UK division seeks creditor approval to reposition its real estate portfolio

  As part of the company’s ongoing financial restructuring efforts, Toys ‘R’ Us U.K. is instigating a Company Voluntary Arrangement (CVA) that will seek creditor approval to reposition its real estate portfolio for future growth. By way of the CVA process, TRU U.K. has submitted a comprehensive operational restructuring plan to its creditors and will solicit their approval of the plan over the next several weeks. If approved by creditors, the CVA plan will substantially reduce the U.K. company’s rental obligations and will allow it to move into a new…

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Toy Licensing 

Hasbro approaches Mattel with a takeover offer

  Hasbro has approached fellow toy giant Mattel with a takeover offer. The potential takeover bid which would see Hasbro’s My Little Pony and Transformers brands join forces with Mattel’s Barbie and Hot Wheels toys was first reported four days ago on November 10. According to a well-known analyst, an amalgamation between Hasbro and Mattel would control approximately 25% of the worldwide mass-market for traditional toys as well as significant portions of the US and domestic mass markets that comes to 30% and 40% respectively. “This merger [between Hasbro and…

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Toy Licensing 

Revenue of Hasbro up 7 pc in Q3 2017

While Toys ‘R’ Us’ filing for bankruptcy in has undoubtedly impacted Hasbro’s bottom line, the Rhode Island-based toymaker saw its revenue climb by 7% to US$1.8 billion in Q3 2017. Meanwhile, net earnings for the third quarter grew 3% to US$265.6 million while operating profit decreased slightly to US$360.9 million (compared to US$362.1 million last year). Toys “R” Us, along with certain of its US and Canadian subsidiaries, voluntarily filed for relief under Chapter 11 of the Bankruptcy Code in the US Bankruptcy Court for the Eastern District of Virginia on September…

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