Hasbro Q4 and full-year sales favor girls over boys
Sluggish holiday toy sales weren’t just reserved for Mattel – which saw its revenues slide 6% during its fourth quarter – as Rhode Island-based toyco Hasbro reported a dip in its Q4 2013 net earnings to US$129.8 million from US$130.3 million last year, following a decrease in demand for boy-skewing brands.
Quarterly revenues were flat at US$1.28 billion.
Hasbro’s net revenues for the full-year 2013 were US$4.08 billion and were also relatively flat with full-year 2012 revenues of US$4.09 billion. Profit for the full-year 2013 was US$286.2 million, down from US$336.0 million in 2012.
The company’s focus on its Franchise Brands business paid off in 2013, as the unit grew 15% with six of the seven brands growing. The Girls category increased 26% to reach a record US$1 billion in revenues thanks to success of Furby and My Little Pony brands. Games, meanwhile, posted a 10% growth, attributable to continued Monopoly momentum.
The company’s emerging markets ventures increased 25% year-over-year, with the largest growth occurring with Latin America at 12%.
However, these gains were offset by revenue declines in the Boys category, which fell by a significant 22% to US$1.24 billion in 2013 largely due to underwhelming performances by Beyblade and Marvel products when compared with 2012 numbers.