Hasbro CEO says 3Q growth boosted by Disney Princess line

HASBRO INC.'S Disney Frozen doll line again helped boost quarterly sales. Pictured is the Disney Frozen Elsa's Magical Story Cape doll, which retails for $19.99. / COURTESY HASBRO INC.
HASBRO INC.'S Disney Frozen doll line again helped boost quarterly sales. Pictured is the Disney Frozen Elsa's Magical Story Cape doll, which retails for $19.99. / COURTESY HASBRO INC.

PAWTUCKET – Thanks to a boost in sales in the girls’ segment fueled by Disney Princess dolls, Hasbro Inc. experienced 24.1 percent growth in profit and 14.1 percent growth in revenue in the third quarter that ended Sept. 25 compared with the prior-year period, the toymaker reported Monday.
“2016 has been a strong year, including our third quarter – which marked the greatest revenue and earnings quarter in Hasbro’s history. We are well positioned for what we believe will be a good holiday season,” Brian Goldner, Hasbro’s chairman, president and CEO, said in a statement.

Profit grew to $256.2 million, or $2.03 per diluted share, compared with $206.4 million, or $1.64 per diluted share, a year ago. Revenue increased to $1.7 billion versus revenue of $1.5 billion a year ago.
The company said the girls category grew 57 percent to $462 million, thanks to sales of Disney Princess dolls and Frozen merchandise, as well as sales of Dreamworks’ Trolls and Baby Alive and Furby products.
Hasbro acquired the Disney Princess franchise from Mattel Inc. in a 2014 deal.
The games division also experienced sales growth over the year, increasing 13 percent to $409.5 million, as a result of strong sales of Magic: The Gathering and Pie Face. The boys division grew as well, rising 2 percent to $605.5 million, fueled by Nerf, Transformers and Yo-Kai Watch sales. Preschool was the only division for which sales declined over the year, to $202.8 million, an 8 percent drop, as revenue growth in Play-Doh was offset by declines in Playskool Heroes and core Playskool items.

The toymaker said earnings included a negative $2.8 million impact from foreign exchange.

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