The hotly anticipated Star Wars film and the popularity of the Paw Patrol franchise has helped drive third-quarter sales at Spin Master.
Executives at Spin Master told analysts on Wednesday that it spent the majority of the summer preparing for the unveiling of its Star Wars toys.
Among the Star Wars toys Spin Master has on shelves is a 16-inch interactive Yoda figure with voice recognition as well as various remote-controlled versions of the Millennium Falcon and X-Wing Starfighter.
CEO Ronnen Haray commented: “We have a great product line that generated very strong reception out of the gate. Similar to other industry partners, sales paused after an initial strong surge but we expect sales to pick up again closer to the movie’s launch and as our autumn media (advertising campaign) kicks in.”
On Tuesday, Spin Master reported that adjusted earnings, which filter out the IPO costs, rose 32.3% to $74.1m from $56m a year earlier. Revenue grew 31.7% to $386.8m from $293.8m, and the company reported that the Paw Patrol toys helped sales in the pre-school and girls segment of the business grow 71.7% to $131.9m from a year ago.