Girls beating boys in sales of Hasbro toys
Snow White and Pocahontas are kicking Iron-Man’s and Captain America’s butts — and those of GI Joe and the rest of Hasbro’s boytoy brands, as well.
The toymaker reported on Monday that second-quarter revenue grew by 10 percent, to $879.9 million, from a year ago, largely on demand for girls’ toys.
In especially hot demand were toys licensed from Disney’s Prin- cess and Frozen doll lines, Hasbro said.
Profits grew by 25 percent, to $52.1 million, or 41 cents a share, from $41.8 million, or 33 cents.
Both profit and revenue beat Wall Street forecasts. Despite the beat, Hasbro shares tumbled 6.6 percent, to $79.62, on the weakness of the boys’ segment.
Hasbro acquired the bottomline-saving Disney rights from rival Mattel in 2014 and began selling the dolls this year.
Sales of toys for girls grew by a whopping 35 percent in the quarter, but sales of toys geared to boys grew by just 4.3 percent — down significantly from the 24 percent gain for boys’ toys in the first quarter.
Hasbro honchos blamed the boytoy slowdown on weak sales of merchandise related to “Jurassic Park” and “Jurassic World” movies — and they predicted the weakness would discontinue next year.
Demand for “Transformers” ac- tion figures fell — revenue was down 20 percent — because there was no movie last year to boost interest in “Transformers” toys.
“The boys market is highly entertainment dependent,” noted Chris Byrne, content director for TTPM, a toy review Web site.
Toy analysts expect sales from “Transformers” merchandise to tick back up next year, however, when “Transformers: The Last Knight” opens.