Demand for Jurassic World and strong early sales of its Star Wars toy lines have helped toymaker Hasbro to another successful financial quarter.
The company’s Q3 net revenues in the boys’ category surged 24 per cent on the same period for last year to total $593.1 million, as the firm cites sales of Jurassic and Star Wars toys as a significant reason for the growth.
Net earnings for the third quarter 2015 were $207.6 million compared to $180.5 million in 2014.
Net revenues for the third quarter 2015 remained flat however, with 2014’s $1.47 billion, as the boys’ category took charge of the firm’s growth.
Hasbro’s pre-school offering also saw a surge with a 17 per cent growth to $219.6 million. Growth in franchise brand Play-Doh, along with shipments of Playskool Heroes Star Wars Galactic Heroes and Jurassic world as well as the launch of Playskool Friends My Little Pony more than offset revenue declines in core Playskool products.
“Strong global consumer demand across Hasbro franchise brands and partner brands drove continued momentum in our business,” said Brian Goldner, Hasbro’s chairman, president and chief executive officer.
“Brand innovation and superior market execution delivered not only underlying revenue growth, but higher profitability in a very challenging foreign exchange environment.”
Deborah Thomas, Hasbro’s chief financial officer, added: “Throughout 2015, our teams have positioned Hasbro to succeed in a very challenging environment.
“Tremendous innovation across brands and a strong entertainment slate has driven favorable product mix and underlying profit gains.”