A rough retail environment this past holiday season took its toll on toyco RC2 Corporation, which posted losses in Q4 and for its 2008 year-end results.
The toy and infant products company saw a net loss of US$212.45 million for the fourth quarter, compared to the same quarter in 2007 when it saw a slight net income bump of US$0.4 million. Net sales for the period saw a 12% dip to US $121.69 million versus US$138.57 million from the same period in ’07.
As for 2008, RC2 saw a net loss of US$205.75 million, compared to a net income of $21.69 million the previous year, while net sales decreased about 11% to US$437.03 million, compared to $488.99 million for 2007. Meanwhile, net sales in North America from continuing product lines as adjusted for recall-related items experienced a 7% decline in the fourth quarter.
On the licensing front, the toyco has been appointed by the Jim Henson Company as master toy licensee for preschool property Dinosaur Train. The multi-year agreement will see the company’s Learning Curve Brands division launching a line of preschool products for the last half of 2010.