Tuesday, May 5th6.8°C
25936
25853

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




Recent Trending




Today's Market
S&P TSX15367.47+27.70
S&P CDNX699.12-0.31
DJIA18070.40+46.34
Nasdaq5016.93+11.54
S&P 5002114.49+6.20
CDN Dollar0.8257-0.0014
Gold1187.50+0.70
Oil58.87-0.06
Lumber247.00-9.30
Natural Gas2.798-0.023

 
Okanagan Companies
Pacific Safety0.135+0.010
Knighthawk0.010.00
QHR Technologies Inc1.48+0.02
Cantex0.04+0.00
Anavex Life Sciences0.3255-0.0045
Metalex Ventures0.10+0.01
Russel Metals27.44+0.15
Copper Mountain Mining1.70+0.18
Colorado Resources0.10-0.00
ReliaBrand Inc0.0059+0.0019
Sunrise Resources Ltd0.04+0.00
Mission Ready Services0.185-0.030
Decisive Dividend Corporation1.85-0.15

 



25935

FEATURED Property
18528382122 Highway 95 Parson BC
1 bedrooms 1 baths
$35,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Not the lawsuit type

If I asked you whether you were the lawsuit type, chances are that your answer would be a resounding “NO”. Most people cringe at the thought of being involved in a lawsuit and if you don&r...


The rules are changing

In recent years, a number of countries, including England, Australia and the United States, have changed the regulatory framework that governs their financial institutions. Included have been changes ...


Buy versus rent

Consider the top five reasons to buy versus rent: #5 Experience Freedom: Home ownership will free you from the ties that bind you to a landlord...no longer will you be dependent on someone else&rsq...

_



26166

25911


Member of BC Press Council


25600