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Hasbro reports surprise fall in fourth-quarter revenues

Unlike sales, earnings topped expectations in the fourth quarter
Magic the Gathering card
Partner brands - particularly Star Wars - did poorly, but Hasbro's own brands, such as Magic: the Gathering, did well

The force was not particularly strong in toys and games maker Hasbro Inc (NASDAQ:HAS) in the fourth quarter of 2017.

Revenues declined 2% to US$1.60bn from 2016 level, which the group attributed largely to a decline in revenues from Star Wars-themed merchandise.

READ: Mattel hot-wheels it higher on reports of bid approach from Hasbro

Adjusted net earnings, excluding the impact of recent changes to US tax legislation, were US$291.2mln, equivalent to US$2.30 per share; the market had been expecting earnings per share of US$1.82.

Hasbro’s global team’s execution of our Brand Blueprint drove revenue gains in Franchise Brands, Hasbro Gaming and Emerging Brands, including immersive brand experiences across consumer products and digital gaming,” said Brian Goldner, Hasbro’s chairman and chief executive officer.

“Our strong performance ranked Hasbro number one across the G11 markets for the full-year 2017. In the fourth quarter, Hasbro Franchise Brand revenues increased 11%; however, overall consumer demand slowed in November and December both for the industry and for Hasbro. A decline in Partner Brands and Europe revenues resulted in us not meeting our fourth quarter revenue expectations,” Goldner admitted.

“Looking ahead, our innovative lines are supported by robust storytelling and digital initiatives that position us well for 2018 and beyond,” the Hasbro boss claimed.

Hasbro’s shares were down 7.2% at US$87.20 in pre-market trading.

In the regular session they added 8.83% to US$102.22.

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April 24 2017
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February 06 2017
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