TOTSY Receives Round of Financing
TOTSY.com, a private sale site dedicated to delivering deals on must-haves for parents, babies and kids, announced the close of its Series B round of financing for $18.5 million.
TOTSY will use the proceeds of the Series B to continue to propel user acquisition, increase sales, and expand operational capacity. Existing investors financed the Series B round, with Rho Ventures leading and DFJ Gotham participating. In connection with the financing, managing partner Habib Kairouz of Rho Ventures will join the TOTSY Board of Directors.
“We’re very pleased to be continuing on with our existing investors, Rho Ventures and DFJ Gotham. Their lasting confidence in TOTSY is a great source of pride for us and we look forward to working closely with them to achieve another stellar year,” said Guillaume Gauthereau, co-founder and CEO of TOTSY, in a statement.
TOTSY says it has approximately 3 million active users.
Hasbro Reports Q2 2012
Hasbro reported financial results for the second quarter 2012. Net revenues for the quarter were $811.5 million, a decrease of 11 percent, compared to $908.5 million in 2011. Second quarter 2012 net revenues declined 7 percent excluding a negative $34.4 million impact of foreign exchange. Net earnings for the second quarter 2012 were $43.4 million, or $0.33 per diluted share, versus $58.1 million, or $0.42 per diluted share, in 2011. Second quarter 2011 net earnings include a favorable tax adjustment of $20.5 million, or $0.15 per diluted share, and pre-tax expense of $13.1 million, or $0.06 per diluted share, related to costs associated with establishing Hasbro’s Gaming Center of Excellence. Absent these items, second quarter 2011 net earnings were $46 million or $0.33 per share.
“2012 continues to develop in line with our expectations as we shift more of our shipments later in the year while improving profitability in the near term,” said Brian Goldner, Hasbro’s president and CEO, in a statement. “In the U.S. and Canada, we have gained share and the teams are focused on returning to historical levels of operating profit as well as partnering with U.S. retailers to shift shipments closer to the peak consumer demand periods in the third and fourth quarters. Internationally, we continue our global expansion, leveraging investments in emerging markets, product innovation, and entertainment to drive Hasbro brands globally. Finally, our television strategy is delivering growth within our Entertainment and Licensing segment and creating demand for our toys and games in global markets.”
U.S. and Canada segment net revenues were $406.6 million, a decrease of 19 percent, compared to $505 million in 2011. The results reflect growth in the Preschool category offset by declines in the Boys, Girls, and Games categories. The U.S. and Canada segment reported an operating profit of $60.9 million, up 6 percent, compared to $57.7 million in 2011.
Net revenues in the International segment grew 5 percent absent the negative $33.4 million impact of foreign exchange. Including the impact of foreign exchange, International segment net revenues were $360.5 million, down 4 percent, compared to $374.5 million in 2011. Revenue in the International segment reflects growth in Latin America offset by a decline in Europe and Asia Pacific. The International segment reported an operating profit of $29.9 million, compared to $33.8 million in 2011.
Entertainment and Licensing segment net revenues increased 59 percent to $43.2 million, compared to $27.2 million in 2011. The segment benefited from the sale of television content in all formats in the U.S. and internationally. The Entertainment and Licensing segment reported an operating profit of $8.2 million compared to $0.6 million in 2011.
For the second quarter 2012, net revenues in the Boys category decreased 16 percent to $389.1 million.
Net revenues in the Games category declined 8 percent to $213.8 million. In the Girls Category, net revenues declined 13 percent. Net revenues in the Preschool category increased 6 percent to $103.4 million.
Pac-Man Expands Globally
41 Entertainment, a global animation company, announced that it has appointed licensing and merchandising agents in the UK and Ireland as well as Australia and New Zealand for the Pac-Man and the Ghostly Adventures TV series (26 x 22’) slated to begin broadcast in fall 2013.
UK-based Lisle International (Lisle) will handle all licensing and merchandising activity in the UK and Ireland while Gaffney Licensing, based in Sydney, will manage the same in Australia and New Zealand.