While competitor Mattel saw sluggish holiday sales, Rhode Island-based toy company Hasbro may have had a cheerier holiday season, posting higher revenue and earnings in Q4 thanks largely to its boys division, which saw a 21% jump in sales.
For the fourth quarter of 2014, the toyco posted a 1% rise in overall revenue to US$1.3 billion, noting that if not for the strong US dollar (which cost the company US$75 million in sales), revenue for Q4 would be up by 7%.
Quarterly income for the period was US$169.9 million, up from US$129.8 million in 2013.
Helping to offset the impact of the foreign currency exchange, Hasbro’s boys division posted the largest gain in Q4, spurred by the Transformers and Marvel brands. Q4 was not as positive for Hasbro’s girls division, which saw a 10% dip in sales, and its games division, which posted a 4% drop.
While girl-skewing toys were down in quarterly revenue, the company emphasized a 2% rise in full-year revenue to US$1.02 billion for the division, thanks largely to its My Little Pony, My Little Pony Equestria Girls and Nerf Rebelle lines. This category is poised to grow, as Hasbro’s license to create Frozen and Princess dolls from Disney kicks off in 2016.
Full-year 2014 boys category revenues increased by 20% to US$1.48 billion, led by growth in the company’s Transformers, Nerf and Marvel properties.
Games category revenues dropped by 4% for the year to US$1.26 billion, with declines in the Duel Masters, Twister and Angry Birds games.
Preschool revenue was also down by 4% to US$510.8 million for the full year, as increases in Play-Doh and Transformers Rescue Bots revenue was more than offset by declines in other toys, including core Playskool and Sesame Street products.
Overall, net revenues for the full-year 2014 increased by 5% to US$4.28 billion, compared to US$4.08 billion in 2013.
Its emerging markets venture saw revenue increase by 20% to US$689.8 million, with the largest growth at 14% in Latin America, followed by a 10% growth in the Asia Pacific region.
The company’s earnings report comes a week after CEO and president Brian Goldner added the title of chairman to his role at the company.