DHX Media Shuffles Management

DHX Media CEO Dana Landry is leaving the company and its board,  replaced by Executive Chairman Michael Donovan, who held the CEO position before Landry assumed it in 2014. Donovan founded DHX in 2006 in merging his Halifax Film Co. with Decode Entertainment, shifted from CEO to Executive Chairman in 2014 when Landry was promoted to CEO from his prior position as CFO.  Also departing DHX is CFO Keith Abriel, who was replaced by Doug Lamb, formerly of Postmedia. The management changes come as DHX continues a strategic review begun last fall.

Contact:

DHX Media, Michael Donovan, CEO, 902-423-0260

YouTube Coming And Going: Jazwares Ends Tube Heroes, While Pocket.Watch Starts YouTube Brand

Jazwares is ending its Tube Heroes program (based on social media personalities) after a three-year run, while Pocket.watch is launching one of its own.

Jazwares is keeping the Tube Heroes brand, but is parting with a program that had a roster of personalities, including Minecraft-playing Captain Sparklez, who has since signed with Pocket.Watch. Jazwares, which supplied Tube Heroes action figures, once aimed to create a roster of up to 40 social media stars and license out their brands for apparel, posters and other items. But the company decided the program had “run its course,” says Jazware’s Monika Salazar.

Meanwhile, Pocket.watch has formed apparel and toy banners for its roster of YouTube partners, including Ryan ToysReview, EvanTubeHD, JillianTubeHD, HobbyKids TV and Captain Sparklez. Pocket.watch has said it expects to eventually have agreements with up to a dozen YouTube personalities.

The company has a master apparel pact with The Bentex Group that will bring product to market by fall, and another deal with Bonkers Toys for figures, vehicles, blind bags and plush.

Pocket.watch, which raised $6 million in funding last year, struck the first of its YouTube pacts last year with HobbyTV, which operates 10 YouTube channels.

Contacts:

Jazwares, Monika Salazar,  Senior Dir. Trade and Retail Marketing, 954-845-8000, msalazar@jazwares.com

Pocket.watch, Stone Newman, Chief Revenue Officer, 917-371-0779, stone@pocketwatch.com

Walmart’s Closing of 63 Sam’s Club Stores Will Cut $6.3 Billion in Revenue

The closing of 63 Sam’s Clubs will cut about $6.3 billion from Walmart’s revenue this year, company executives told analysts. As a result, Walmart lowered its overall forecast for annual same-store sales growth to a 1.5-2% increase from the 2.5-3% it projected in October. At the same time, while Walmart struggled with “operational issues” with its e-commerce division during the holiday season, it continues to forecast a 40% increase in revenue from that business this year, CEO Douglas McMillon said. Walmart’s ecommerce segment, which includes its own and Jet.com web sites, posted a 24% revenue increase in Q4 ended Jan. 31, down from a 50% increase the previous quarter.

Overall, Walmart’s net income tumbled 42.7% to $2.1 billion in Q4 ended Jan. 31 as it took a $1 billion loss in paying off debt. It posted a 4.2% revenue increase to $135.1 billion on a 2.8% rise in same-store sales led by toys, entertainment products and women’s apparel, Walmart said. U.S. sales grew 3.4% to $86.5 billion on a 2.7% gain in same-stores sales, while those in international markets increased 6.7% to $33 billion.  Sam Club’s posted a 3.3% revenue increase to $15.4 billion as same-store sales rose 3.6%.

Contact:

Walmart, Charles Holley, Chief Financial Officer, 479-273-4000

Bebe Licensing Venture Doubles Net Income in Q2

Bebe Stores’ licensing joint venture with Blue Star Alliance posted net income of $4.2 million in Q2 ended Dec. 31, up from $2 million a year earlier as revenue more than doubled to $5.1 million, the company said.  Bebe, which closed the last of its 180 stores in 2017, forged the joint venture with Bluestar a year earlier to license its brand name. The venture has signed a series of agreements, including one for apparel with Global Brands Group.

Contact:

Bebe Stores, Manny Mashouf. CEO, 415-715-3900