Hasbro Q3 results show Boys toy sales down by 12%, Girls up by 17%
Toy giant Hasbro has reported its Q3 2012 results, showing net earnings were down to US$164.9 million from US$171 million during the same period last year. Net revenues and operating profit, however, were up with revenues growing 1%to US$1.39 billion and an operating profit equivalent to 18.6% of net revenues.
Net revenue growth was hit by a US$47.4 million foreign exchange translation, bringing the figure down to US$1.35 billion. CEO Brian Goldner remains positive as Hasbro heads into the company’s most important sales season.
In terms of individual segments, Entertainment and Licensing generated US$43.1 million in Q3 compared to US$46.3 million from a year ago, due primarily to lower movie-related revenues.
As for the boys category, net revenues were down 12% to US$471.1 million, despite Marvel products continuing to post strong year-over-year gains. Global sales declines in Transformers and Beyblade products offset the Marvel performance.
The company’s Girls category shot up 17% to US$302.3 million on the back of the introduction of new Furby products and My Little Pony, which has been futher boosted by its successful TV series. Preschool, meanwhile, was down 5% to US$206 million with the Sesame Street license pulling in lower sales compared to last year’s launch of the line.