Yahoo Finance Roblox (RBLX) Collaborates With H&M to Launch Looptopia
Roblox RBLX recently announced that it has collaborated with H&M to launch an immersive gaming experience, Looptopia.
The game will allow players to experiment with materials and patterns and create their choice of virtual garments and wardrobe to dress their avatar. It also includes social interaction with fellow players, trading of clothes and styling sessions that will help users to further explore new forms of their digital identity.
This will track the young customers who are advocates of modern fashion and are fond of clothes and accessories of H&M towards the game.
Collaborations With Top Brands to Strengthen the Gaming Experience at Roblox
Roblox has collaborated with various fashion brands who are in sync with it to promote the world of Metaverse.
In 2022, the company saw a large influx of global fashion and beauty brands such as Gucci, Burberry, Carolina Herrera, Tommy Hilfiger, NARS, and Alo Yoga that newly partnered or extended existing partnerships with Roblox to create digital fashion and immersive experiences for Roblox.
It also onboarded supermodel and entrepreneur Karlie Kloss, as well as metaverse-only fashion companies like DRESSX to expand the bandwidth of fashion choices for its players.
Roblox Corporation Price and Consensus
Roblox Corporation price-consensus-chart | Roblox Corporation Quote
Roblox is also in talks to collaborate with the renowned home and kitchen furnishing retail company Williams Sonoma WSM, which has expressed its desire to jump into the virtual world. This deal will be the first of its type and will diversify Roblox into a new category besides fashion.
These have boosted player engagement for Roblox as in the third quarter of fiscal 2022, daily active users were at $58.8 million, indicating a 24% year-on-year growth rate.
However, Roblox has been suffering from the strengthening U.S. dollar against the Euro and the British pound, which has impacted its top line.
As of last November, Roblox’s average bookings per daily active user continued to decline as they were between $3.92 and $3.97, down 7-9% from the prior-year period.
Tough macroeconomic conditions have slowed down the advertisement market as well, which forms a major source of revenue for the free-to-play game company, Roblox.
Shares of this Zacks Rank #3 (Hold) company have fallen 67.4% in the past year compared with the Zacks Consumer Discretionary Sector, which fell 31.9% in the same time frame.
Zacks Rank & Stocks to Consider
Roblox currently has a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks in the same sector are Liberty Media FWONK and Royal Caribbean Cruises RCL, each sporting a Zacks Rank #1 (Strong Buy).
Liberty Media’s share price decreased 3.9% in the past year. The Zacks Consensus Estimate for earnings is pegged at 10 cents, which has moved up by 42% over the past 30 days.
Shares of Royal Caribbean Cruises are also down 32.4% year over year. The earnings estimate is pegged at a loss of $1.34, which has been constant over the past 30 days.
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Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report
WilliamsSonoma, Inc. (WSM) : Free Stock Analysis Report
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Roblox Corporation (RBLX) : Free Stock Analysis Report
