Hasbro Results Top Views But Growth in Star Wars Toys Slows

Hasbro Inc. reported better-than-expected revenue and profit in its latest quarter, boosted by sales in its girl category, but growth slowed in the boys unit that includes Star Wars toys.

Hasbro said its recently acquired, and closely watched, line of reimagined Disney Princess and Frozen dolls helped boost the girls category, with sales increasing 57% to $462 million. In 2014, Hasbro won the rights to the popular dolls away from toy-making rival Mattel Inc.

Sales of NERF products and Transformers-themed toys boosted sales in its boys segment 2% to $605.5 million compared with a year ago. The company's Star Wars toys had been a large driver of growth in the category in the year-ago quarter ahead of the release of the 2015 film "Star Wars: The Force Awakens." A new film, "Rogue One: A Star Wars Story," is slated for release this December.

Over all, Hasbro posted a profit of $257.8 million, or $2.03 a share, up from $207.6 million, or $1.64 a share, a year prior. Revenue increased 14% to $1.68 billion. The company said foreign exchange dented revenue by $2.8 million.

Analysts expected $1.74 in per-share earnings on $1.56 billion in revenue, according to Thomson Reuters.

Hasbro's strength comes as the toy industry has experienced a resurgence lately. Toy sales rose 6.7% in the U.S. last year, the best results in more than a decade, according to research firm NPD Group Inc. Mattel is slated to report its results on Wednesday.

Shares, inactive in premarket trading, have slipped 11% through Friday's close at $76.16.

Write to Joshua Jamerson at [e-mail]

(END) Dow Jones Newswires

October 17, 2016 07:35 ET (11:35 GMT)

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