The Toronto-based children’s entertainment company is hoping to combat tariffs by focusing on innovation and scaling its global franchise brands.Andrew Lahodynskyj/The Canadian Press
Spin Master Corp. TOY-T reported a second-quarter loss as it said it had revenue pressure related to tariffs, and is working to position itself to navigate the broader macroeconomic headwinds.
The Toronto-based children’s entertainment company, which reports in U.S. dollars, says it lost US$46.5 million in the second quarter, compared with a loss of US$24.5 million in the same quarter last year.
On an adjusted basis, the company said it lost US$7.4 million, or seven cents per diluted share in the quarter, compared with a US$9.6 million adjusted profit, or nine cents per share, in the period last year.
Revenue totalled US$400.7 million, compared to US$412 million in the same quarter last year.
Chief executive Christina Miller says in a statement that revenue was down as the company experienced a shift in retailer ordering patterns driven by global tariffs, while double-digit growth in its digital games segment helped offset some of the pressure.
Miller says the company is working to focus on accelerating innovation and scaling its global franchise brands to help navigate the wider economic headwinds.