Retail in Asia

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Canada’s Mega Brands reports net loss of USD8.5m in 1Q12

Canadian toymaker Mega Brands on Thursday reported a net loss of USD8.5 million in the first quarter ended on 31 March 2012 although sales increased 14 percent to USD58.2m.

The toymaker said the business is seasonal and historically the first quarter is the period with the lowest sales of the year and negative profitability.

Toy sales increased 10 percent compared to the first quarter of 2011, driven by higher product shipments in the Preschool and Boys construction categories. North America sales jumped 21 percent and international sales grew 2 percent.