Russ Berrie continues to exhibit growth during these economic times. Russ Berrie and Company, of Oakland, NJ, engages in the design, development and distribution of branded products through its Infant& Juvenile segment and Gift segment. Its design-led products are sold primarily through mass market, toy, specialty, food, drug and independent retailers worldwide.
The company reported that overall net income had decreased, but that sales had increased. The company has been expanding it’s focus into the juvenile furniture business, and will be expanding its web presence into foreign markets with regards to their Shining Stars line of plush toys.
The companies expansion into more recession proof product line has provided some protection, while integrating interactive websites with their toy gift line has encouraged brand loyalty. Bruce Crain, President and Chief Executive Officer, concluded, “Looking at the balance of the year, we will continue to focus on design-led and branded product development in both our Infant & Juvenile and Gift segments. He added, “We expect that this approach, as well as our efforts to optimize our pricing strategies, control inventory levels and manage rising costs, will help offset some of the macroeconomic pressures.”
On Wall Street, Russ Berrie’s shares closed on Monday, May 11th at $13.19.