Hasbro games, girls and pre-school sales rise

Company posted a loss during Q1 2013; brands like My Little Pony enjoyed growth.
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Hasbro saw its games, girls and pre-school categories grow during the first quarter of 2013.

Games posted 26 per cent revenue growth year-on-year during the period. Games that grew in the quarter included Magic: The Gathering products, Angry Birds Star Wars and Transformers games, Twister and Twister Rave in Girls Gaming, and Monopoly, which was led by a "tremendously successful" Save Your Token global campaign.

The Girls category increased 23 per cent in the quarter, with Furby, My Little Pony and One Direction products performing well.

The pre-school category grew eight per cent to $75.2 million, thanks to brands like Play-Doh and Playskool Heroes.

Net revenues in the Boys category decreased 20 per cent to $242.8 million, but Marvel, Nerf and GI Joe product revenues grew.

Hasbro says it achieved greater than 30 per cent revenue growth in My Little Pony, Magic: The Gathering and Play-Doh.

The company posted a first quarter 2013 net loss of $6.7 million in Q1 2013, compared to a net loss of $2.6 million in the same period in 2012.

Hasbro is currently undertaking a cost savings initiative, in a bid to make $100 million in annual savings by 2015.

"We entered 2013 with a heightened focus on our brands, organisation and profitability, and delivered a good start to the year," said Brian Goldner, Hasbro's President and Chief Executive Officer.

"In the first quarter, our global Hasbro teams generated revenue growth and strong underlying profitability growth. 

"Our emerging markets continued to post double-digit revenue gains while the US and Canada team delivered another quarter of revenue growth backed by profitability improvement. 

"The reinvention of our Games business led to another quarter of revenue growth in the Games category, while brand innovation and new initiatives delivered gains in the Girls and Pre-school categories."

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