TORONTO — Spin Master Corp.'s CEO says he has an eye on numerous points of "volatility" the toy maker could face this year.
Max Rangel says the Toronto-based company stands to be impacted by 10 per cent tariffs U.S. President Donald Trump has levied on goods entering his country from China.
He says Spin Master's financial performance may also be hindered by consumers continuing to be careful with spending on discretionary items.
To deal with both, Spin Master is reviewing its supply chain options and pricing to mitigate the impact.
Rangel says it is also offering a Paw Patrol line of toys at lower price points.
His remarks come a day after Spin Master says it earned US$21.1 million in the fourth quarter, up from a loss of US$30.1 million a year earlier. Its revenues totalled US$649.1 million, up from US$502.6 million during the fourth quarter of 2023.
This report by The Canadian Press was first published Feb. 25, 2025.
Companies in this story: (TSX:TOY)
Tara Deschamps, The Canadian Press
