Hallmark reports higher revenue on card
KANSAS CITY, Mo. (AP) - March 31, 2008 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
