Monday, September 1st8.7°C
22736
22642

Girl Power: Hasbro returns to 1st-quarter profit as sales of girls' toys strengthen

PAWTUCKET, R.I. - Hasbro returned to profitability in its first quarter, driven by sales of girls' toys such as My Little Pony and Nerf Rebelle. The prior-year results were dragged down by restructuring charges.

Its latest earnings topped Wall Street estimates but revenue was short of what analysts expected. Its shares rose in light premarket trading.

Sales of girls' products rose 21 per cent. Sales of My Little Pony Equestria Girls dolls also resonated with customers.

The boys' category reported a 2 per cent increase in sales, helped by Nerf and Marvel products. This was partially offset by weakening Beyblade sales.

Game sales fell 4 per cent, hindered partly by declining sales of trading card game Duel Masters.

Sales of preschool products slipped 4 per cent due to soft sales of core Playskool items.

Sales for the entertainment and licensing division rose 13 per cent thanks to the inclusion of Backflip Studios. International sales increased 5 per cent, led by Europe and Latin America. In the U.S. and Canada, sales edged down 1 per cent.

The Pawtucket, R.I.-based company earned $32.1 million, or 24 cents per share, for the period ended March 30. That compares with a loss of $6.7 million, or 5 cents per share, a year earlier.

Stripping out favourable tax adjustments of 10 cents per share, earnings were 14 cents per share.

The year-ago period was pulled down by restructuring charges totalling 14 cents per share. It also had favourable tax adjustments of 4 cents per share a year ago.

Analysts surveyed by FactSet expected earnings for the latest period of 10 cents per share, on average.

Revenue edged up 2 per cent to $679.5 million from $663.7 million, but missed Wall Street's estimate of $690.1 million.

Last week rival Mattel Inc. reported an unexpected first-quarter loss, hurt by soft Barbie sales and markdowns to clear excess inventory.

Hasbro Inc. shares climbed $2.39, or 4.4 per cent, to $57 in premarket trading Monday about an hour ahead of the market opening. Its shares are down slightly so far this year.

The Canadian Press


Read more Business News

22689


Recent Trending




Today's Market
S&P TSX15625.73+67.561
S&P CDNX1023.991.62
DJIA17098.4518.88
Nasdaq4580.271+22.577
S&P 5002003.37+6.63
CDN Dollar0.9207+0.0014
Gold1281.70-2.1001
Oil95.96+1.29
Lumber349.60+2.60
Natural Gas3.965+0.054

 
Okanagan Companies
Pacific Safety0.20+0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.190.00
Cantex0.08+0.01
Anavex Life Sciences0.25+0.01
Metalex Ventures0.0750.00
Russel Metals36.48+0.09
Copper Mountain Mining2.93+0.02
Colorado Resources0.180.00
ReliaBrand Inc0.10+0.001
Sunrise Resources Ltd0.0250.00
Mission Ready Services0.245-0.005

 



22253

FEATURED Property
2043380#209 580 Sarsons Road
1 bedrooms 2 baths
$349,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


At the Core: Lessons in pricing from Apple

Apple has taught many entrepreneurs the importance of design, how to create buzz when introducing new products to the marketplace, how to pioneer new technology and the importance of superior quality....


New Real Estate Brokerage in town

Move over “big guys” there’s a new brokerage in town featuring local expertise, long standing experience and a fresh boutique approach. Kelowna, August 31 2014 – You may have...


How much mortgage should you carry?

There are several things to consider when deciding how much home to buy. 1. Draw up a budget including the new mortgage payments. While the rules used by most lenders require that the mortgage paym...

_








Member of BC Press Council


22810