iFreePress Bringing News on Time Every Time Sales in Hasbro’s games category, its second largest revenue driver, fell 6.2 per cent in the quarter.
Revenue dropped 4% to $797.7 million due to currency headwinds, beating forecasts for $773.1 million.
Box office juggernauts Avengers: Age of Ultron and Jurassic World have each grossed more than $1 billion from box offices around the world - but their financial prowess isn’t ending on the silver screen.
Jurassic World notched the biggest movie debut in history last month, while Star Wars: Episode VII - The Force Awakens, set for release in December, is one of the most anticipated films this year. Excluding the impact of foreign exchange, revenue rose 5 percent.
Net income attributable to Hasbro rose to $41.8 million, or 33 cents per share, in the second quarter ended June 28, from $33.5 million, or 26 cents per share, a year earlier.
The better-than-expected quarterly results sent the stock up more than six percent on Monday. “We are well positioned for the remainder of 2015, but importantly we continue to develop our capabilities for the long-term execution of our strategy toward unlocking the full potential value of our brands”.
“If you rely on a movie franchise, Star Wars is as big as it can get”, Handler said.
Sales for the girls business plunged 22% to $127.5 million, held back by Furby, a fuzzy robot toy.
Hasbro is also gaining confidence ahead of its takeover of Disney Co.’s coveted princess and “Frozen” licenses from Mattel next year. Market leader, Mattel, has also been struggling with its girl’s toys business, with sales of Barbie doll continuing to disappoint, falling 11 percent in its latest quarter. Year-to-date, the stock has grown an impressive 50.3%.
