CFO says toy giant is gaining market share in Europe; reports strong sales of licensed toys.
Hasbro’s CFO Deb Thomas has talked up the sales performance of the firm's products in the UK and Europe.
The exec was speaking at an investor conference at Goldman Sachs in New York this week.
“The toys and games business is not recession proof but we continue to see overall business doing well in Europe,” she said.
“The UK and France continue to perform well for us and we continue to gain market share.
“What we are also seeing is some of the emerging markets like Russia and Turkey doing very well. Spain however is performing below expectations for the year.”
Thomas also said Hasbro’s licensed products like the Marvel Avengers film tie-in toys had also been selling strongly.
“Avengers has been doing great – it’s broken every record it can right now,” she added. “Marvel and Disney are pleased as well.
“The Avengers is having a great year and we’re happy to have the toy licence. Most of the toys will sell in the latter half of the year. We’re also excited about Spider-Man coming out in July. Whenever there’s a movie out, it drives a significant amount of [toy] sales.
“Our Battleship products are also doing very well at retail right now. One of the great things about these movie strategies is to get exposure to our brands. And having all the marketing dollars behind it and the advertising for Battleship [the movie] has been fantastic for our brand.”
Thomas mentioned the partnership Hasbro has with other movie properties like Star Trek and G.I. Joe, both of which have new movies on the horizon.
Hasbro made a net loss of $2.6m during its first 2012 financial quarter but gained market share in the US and Europe, with international revenues up 14 per cent to $289.7m.