Strong sales of girls' toys led by Disney princess helped drive the toymaker's quarterly profit and revenue higher. Fred Katayama reports.
Dolls saved the holiday season for Hasbro. The toymaker bucked the glum seasonal trend with rising sales and profit as revenue from the girls category leapt 52 percent. Leading that charge: the Disney princess dolls. Hasbro won the contract for those toys from Mattel in 2014, and it has paid off handsomely. Demand was also strong for Cinderella, Frozen, and Trolls dolls. Board game sales did well, but sales of boys' toys fell. Hasbro's results seem magical compared to those reported by other toymakers and retailers. Mattel posted disappointing earnings, and existing store sales fell at retailer Toys "R" Us. Piper Jaffray senior analyst Stephanie Wissink said, "There's no denying Hasbro has incredible momentum heading into 2017, and we continue to expect very solid growth in sales and earnings." Hasbro shares, up six percent this year, rocketed higher at the start of trading. Mattel also rose.