Hasbro's record holiday quarter lifts shares to all-time high
(Reuters) - Hasbro Inc (HAS.O: Quote), the No. 2 U.S. toymaker, reported record holiday-quarter revenue, helped by strong demand for Disney princess dolls and its board games, sending the company's shares up 17 percent to an all-time high.
Hasbro's sales have got a boost since the company, which has traditionally focused on boys' toys, won a lucrative contract for dolls based on Walt Disney Co's (DIS.N: Quote) princesses such as Cinderella and Frozen's Elsa from Mattel Inc (MAT.O: Quote) in 2014.
The company, which started selling the dolls in 2016, said revenue from the girls category jumped 52 percent in the fourth quarter ended Dec. 25.
Global sales of its board games also rose 11 percent, driven by demand for its franchise brand Magic: The Gathering and also Pie Face.
The company also benefited from strong demand for dolls based on DreamWorks' "Trolls" movie, which was released in the United States in November.
Hasbro is well-positioned for its year ahead with the March release of Disney's "Beauty and the Beast" and a line up of other movies, including Marvel's "Guardians of the Galaxy Vol. 2" and "Spider-Man: Homecoming," Chief Executive Brian Goldner told analysts on a call.
Hasbro, which had a record fourth quarter in terms of sales, is the first toymaker to report strong results despite a weak holiday selling season. Continued...