Hallmark reports higher revenue on card

March 31, 2008 12:41:41 PM PDT
Privately held Hallmark Cards Inc., the nation's largest greetings card seller, on Monday said it had double-digit growth in 2007 profits on higher sales of card products and a strong back-to-school performance by its Crayola subsidiary. The Kansas City-based company reported total worldwide annual revenue rose 8 percent to $4.4 billion. The company didn't provide details of its profits.

Hallmark North America, which sells greetings cards, stationery, gift wrap, Christmas ornaments and other items both wholesale and through a network of corporate-owned stores and independent Hallmark Gold Crown stores, had a 7 percent increase in sales. The company said the biggest rise came from its cards that include sound clips, its expanded humor card lines and Hallmark (PRODUCT) Red, a line of products that raise money for AIDS treatment in Africa.

Crayola, the Easton, Pa.-based subsidiary that changed its name from Binney & Smith to that of its most iconic product last year, also reported a 7 percent increase in 2007 sales, driven by new products and increased sales of school supplies.

The company's international division reported a 3 percent revenue increase, partly from a new supplier agreement with Wal-Mart Stores Inc.'s United Kingdom division.

Hallmark, which owns a shopping and hotel complex in downtown Kansas City, said its real estate division also saw a 3 percent increase from increased occupancy rates and citywide efforts to attract more visitors downtown.

The company also is a part owner of Crown Media Holdings Inc., which operates the Hallmark Channel on cable. The company, which is publicly traded, reported on March 12 an annual loss of $159 million, or $1.53 per share, compared with a loss of $389 million, or $3.71 per share, during 2006. Annual revenues increased 16.5 percent to $234.4 million.

---

On the Net:

http://www.hallmark.com

Load Comments