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SOURCE Hallmark Cards, Inc.
KANSAS CITY, Mo., March 8, 2013 /PRNewswire/ -- Hallmark Cards, Inc., today announced consolidated revenue of $4.0 billion for the year, a 2 percent decrease from the previous year.
While 2012 business performance fell slightly short of expectations, Hallmark President and CEO Donald J. Hall, Jr., cites several reasons why he remains optimistic about the long-term future for the company.
"We have two of the world's most trusted brands in Hallmark and Crayola, strong relationships with many of the world's top retailers and a branded entertainment network that is reaching a growing number of consumers' homes," Hall said. "I'm confident we are on the right path for growth as we continue to invest in the business, deliver new greetings products, grow with innovation and closely manage costs."
Hallmark North America saw positive consumer reaction to several greeting card innovations, including the new handcrafted Hallmark Signatures Collection, and interactive cards introduced during the holiday season. However, continued cautious consumer spending led to a 3 percent decline in revenue for the operating unit which includes greetings, gift wrap, partyware and gifts.
Hallmark's Crayola subsidiary ended the year flat to 2011 although retail sales during the key back-to-school season were strong. The company continues to focus on innovation and several new products were named "Toy of the Year" by various trade groups. In addition, Target named Crayola a "Supplier of the Year."
A new lineup of original programming helped generate strong ratings for Crown Media's Hallmark Channel and Hallmark Movie Channel. Publicly traded Crown Media, in which Hallmark is a majority owner, posted an 8 percent increase in total revenue; the company announced full year results on Feb. 22, 2012.
The challenging business environment in the U.K. and Australia resulted in a 3 percent revenue decline for Hallmark International. Soft hotel bookings led to a 6 percent revenue decline for Hallmark's Crown Center real estate subsidiary while the new SEA LIFE Kansas City Aquarium and LEDGOLAND Discovery Center Kansas City brought increased visits to the area.
Kansas City-based Hallmark is privately held and does not release earnings.
Hallmark makes the world a more caring place by helping people express what's in their hearts and connect in meaningful ways – a privilege few other companies in the world enjoy. Hallmark greeting cards and other products are found in 39,000 retail outlets in the United States, including the network of flagship Hallmark Gold Crown® stores. The brand also reaches people online at Hallmark.com and on television through Hallmark Hall of Fame original movies and cable's Hallmark Channels. Worldwide, Hallmark offers products in more than 30 languages available in 100 countries. This privately held company is based in Kansas City, Mo., and is led by the third generation of the founding Hall family. Visit http://corporate.hallmark.com for more details.
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