Hasbro reported better-than-expected quarterly revenue and profit, helped by strong demand for Disney Princess, Frozen, and Trolls dolls. Jeanne Yurman reports.
Disney Princesses, Frozen, and Trolls dolls helped Hasbro deliver better-than-expected revenue and profit in the third quarter. Net revenue in the girls' toys segment jumped almost sixty percent, overshadowing slower growth in the boys' segment - Hasbro's biggest business. But Hasbro says the boys unit lagged some because toys tied to the upcoming "Rogue One: A Star Wars Story" film hit shelves five days after the end of the quarter it just reported. Stephanie Wissink covers the company at Piper Jaffray. (SOUNDBITE) STEPHANIE WISSINK, MANAGING DIRECTOR, SENIOR RESEARCH ANALYST, CONSUMER GOODS - HOUSEHOLD, BEAUTY, & CHILDREN'S PRODUCTS, PIPER JAFFRAY & CO., (ENGLISH) SAYING: "One of the key thesis is building businesses on a global basis, which drives, ultimately, to the upside on the earnings profile, and margin expansion. I think, all of those things were illustrated in this quarter, but, ultimately, are going to be fortified, and you're gonna see the effects of those things over the next twelve to eighteen months." Hasbro's strong results come as toy industry is going through a revival. Overall U.S. toy sales grew by almost seven percent in 2015, according to data from The NPD Group, generating almost twenty billion dollars and marking one of the strongest gains the industry has seen in years.