Hallmark reveals 09 figures - Licensing.biz

Hallmark reveals 09 figures

Consolidated revenue of $4.0 billion reported for full year.
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Hallmark Cards has revealed its financial results for 2009.

The company reported consolidated revenue of $4.0 billion for the year, an eight per cent decrease from the previous year's continuing operations.

Hallmark North America, the largest segment of the business which includes greetings, gift wrap, partyware and gifts, finished the year behind 2008 largely due to the economic conditions.

However, the introduction of a number of new types of products lead to revenue gains at the firm's Crayola subsidiary.

Hallmark International also ended the year with positive revenue gains.

"Even with the global economic challenges, consumers respond when they are presented with innovative products they find valuable and meaningful," said Donald Hall Jr, president and CEO of Hallmark.

"2009 was one of the most challenging in Hallmark's 100-year history. Those challenges led us to take difficult actions to permanently reshape our cost structure and boldly pursue a new strategy to generate growth.

"The results of these efforts have put the company in a stronger position to compete in 2010 and beyond."

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