Hasbro sales leap in second quarter

Figures boosted by strong sales of Transformers, driven by Transformers: Dark of the Moon.
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Hasbro has reported revenue growth of 23 per cent to $908.5 million for the second quarter.

Net profit for the second quarter also increased to $58.1 million, compared to $43.6 million in Q2 2010.

Sales in the boys sector almost doubled, increasing 96 per cent to $460.4 million, led by 'strong gains' in the Transformers brand.

International segment sales grew by 43 per cent to $374 million, with growth in every major territory, while US and Canada sales also increased by 14 per cent to $505 million.

Brian Goldner, president and CEO, commented: "The Hasbro team executed our branded-play strategy globally to deliver both a strong second quarter and to lay the framework for growth in 2011 and beyond.

"Today our brands are bigger and more global, many are back by entertainment and the application of our brand blueprint is providing consumers with the opportunity to enjoy our brands across an increasingly broad spectrum of consumer goods and entertainment formats."

While the boys sector sales soared, the girls category worldwide sales declined 11 per cent to $119.1 million. The pre-school sector also fell ten per cent to $97.6 million. Games and puzzles dropped 12 per cent to $231.3 million.

Goldner continued: "As expected top line momentum in our business began to build during the quarter, led by strong gains in the Transformers brand, driven by Transformers: Dark of the Moon and Beyblade, as well as continued double-digit growth in the International segment.

We have continued to make important investments in our business which will help drive both top and bottom line growth in the future. In the third quarter we are launching key new initiatives including the global introduction of Kre-O, our new construction brand, the addition of the Sesame Street brand to our pre-school business and innovative new products in core brands such as Furreal Friends and Littlest Pet Shop."

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