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"Star Wars" propels Hasbro sales

Monday, February 08, 2016 - 01:14

Movie-related merchandise from ''Star Wars'' and ''Jurassic World'' helped Hasbro produce its biggest quarterly revenue jump in almost five years. Fred Katayama reports.

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Hollywood helped Hasbro. "Star Wars" and "Jurassic World" merchandise helped Hasbro's produce its biggest quarterly revenue jump in almost five years. And they would've risen even higher were it not for the strong dollar. Boys toys did particularly well at the U.S.' second largest toymaker, rising 35 percent. Strong demand during the holiday season helped push up profit. Also driving sales: games such as Monopoly and Pie Face and toys for tots like the classic Play-Doh. The weak spot: Furby, Equestria Girls and other toys for girls. The Disney Princess line whose rights it had lured away from Mattel contributed modest sales. PiperJaffray analyst Stephanie Wissink called the results "very strong," saying, "We are encouraged that earnings growth exceeded sales growth, suggesting margin expansion." Hasbro is also expanding the amount it's returning to shareholders, lifting its payout 11 percent. The toymaker's shares rising in early trading. Hasbro has risen 10 percent this year, but its bigger archrival, Mattel, has outperformed it. Both shares got a lift last week when Bloomberg reported the two rivals had held talks about a possible merger. Wissink says the hurdles to a merge would be "considerable."

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"Star Wars" propels Hasbro sales

Monday, February 08, 2016 - 01:14