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Kid Brands changes its strategy after recording higher losses

The company will stop making furniture for LaJobi

27/05/2014

Kid Brands has registered a net loss of $31.7 million in the first quarter of 2014, compared to $1 million lost a year ago. Sales fell 26%, from $51.4 million to $38 million.

The company is reviewing its strategy and has first decided to stop making furniture under the brand LaJobi, owned by Graco. This agreement includes the payment of additional guarantees and cooperation so that retailers are not affected, including the sale of inventory.

Sales of this brand had fallen 31% in the period. Kids Line and CoCaLo (accesories for babies and parents) also reduced its sales by 61.2% and 36.5%, respectively. In contrast, sales of Sassy (early childhood toys and food and bath products) showed an increase of 10.6% in the period.

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