Steady sales growth at Hasbro

Full-year revenues up seven per cent to $4.29 billion; Q4 profit dips one per cent.
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Full-year revenues up seven per cent to $4.29 billion; Q4 profit dips one per cent.
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Hasbro reported a net profit of $139.1 million in the quarter ending December 25th, versus $140 million in the same period last year - a decline of one per cent. 

Net income for the year was $385.4 million compared to $397.8 million in 2010. 

Fourth quarter revenues rose four per cent to $1.33 billion from $1.28 billion however profit was down one per cent. 

The full-year revenue increase of seven per cent included a 16 per cent rise in Hasbro's international operation.

Brian Goldner, Hasbro president and CEO, said: "In 2011 we delivered strong growth in our international business driven by continued investments in advancing our global capabilities.”

He continued: "Globally, the Hasbro team is focused on the key tenants of our branded-play strategy, which is centered on relentless innovation of our core brands, the invention of new brands, and the expansion of play experiences into new immersive brand expression.”

Over 2011, worldwide sales growth was the most healthy in the boys and pre-school categories.

Boys grew by an impressive 35 per cent to $1.82 billion, driven by Transformers and Beyblade, while pre-school improved four per cent thanks to the addition of the Sesame Street licence.

However girls and games and puzzles declined 11 and ten per cent, respectively.

"We did not meet our expectations for growth in the U.S. and Canada segment, as we experienced weaker demand than we had anticipated, especially post-Thanksgiving, including challenges in the games and puzzles category,” said Goldner, adding: “We have taken significant steps by putting new leadership and new plans in place to re-accelerate growth and innovation in both of these important areas."