GREY:MBLKF - Post by User
Comment by
valuedude1on Oct 31, 2013 10:00pm
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Post# 21867351
RE:RE:RE:Meg beats the street with $0.79 earnings
RE:RE:RE:Meg beats the street with $0.79 earningsJust listened to the conference call and they didn't beat earnings. They had a favourable tax benefit which contributed $0.10 to earnings, which if you take that out they missed earnings. Also, Profit margin was down 150 BP in the qtr. Basically it was the boys toys' categories that was down but management says that they still think they can get to $500 million in sales by the end of next year.
They think they can turn around the boys category with Call of Duty, sponge bob, John Deere and Jeep. They said they see strong demand for COD and they only supplied 1 retailer so far in north america in Q3.
A lot of the analysts on the call asked a question about COD. They all seemed very interested in it.
Cheers,
VD