Wednesday, January 28th-3.2°C
24736
24890

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

24393


Recent Trending




Today's Market
S&P TSX14833.88+36.05
S&P CDNX676.77+2.38
DJIA17387.21-291.49
Nasdaq4681.498-90.266
S&P 5002029.55-27.54
CDN Dollar0.8039-0.0031
Gold1288.80+9.40
Oil47.32-0.63
Lumber312.50+0.80
Natural Gas2.907-0.074

 
Okanagan Companies
Pacific Safety0.12-0.02
Knighthawk0.010.00
QHR Technologies Inc1.43+0.04
Cantex0.0350.00
Anavex Life Sciences0.180.00
Metalex Ventures0.035-0.005
Russel Metals24.33-0.12
Copper Mountain Mining1.05-0.04
Colorado Resources0.155+0.02
ReliaBrand Inc0.0069+0.0009
Sunrise Resources Ltd0.055+0.03
Mission Ready Services0.21-0.03

 



24153

FEATURED Property
1997043142/144 Brookfield Road
8 bedrooms 6 baths
$698,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


How to price: workbook approach

In 2008 Self Counsel Press published my book - Pricing Strategies for Small Business. The book is now available in Europe, India, Russia and the United States. The purpose of the book was to make avai...


Ailing Parents: Tax Issues

If your parent has become ill, there can be several tax issues that come into play depending on the nature of their illness, their age and the role that family members are playing. For example, if you...


What do I pay ICBC for anyway?

If you have had ongoing dealings with ICBC as a result of a car accident than you have likely had the pleasure of dealing with at least two sides of ICBC. Initially the relationship starts off pleasan...

_



24709

24709


Member of BC Press Council


23646