HAS: Hasbro Beats Street on Strong Girl Toy Sales

Sales of boys' and girls' products rose, but games sales fell

   

HAS: Hasbro Beats Street on Strong Girl Toy Sales

On Monday, toymaker Hasbro (HAS) posted a better-than-expected quarterly profit, but fell short of estimates on revenue. On the news, HAS stock rose more than 1% in morning trading.

Hasbro185 HAS: Hasbro Beats Street on Strong Girl Toy Sales

monopoly game 200x200 HAS: Hasbro Beats Street on Strong Girl Toy Sales
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HAS stock gained after Hasbro said it earned $32.1 million during the first quarter. In the year-ago period, HAS reported a loss of $6.7 million. Adjusted EPS came in at 14 cents, easily beating the 10 cents that analysts had forecast, the Wall Street Journal noted.

The company said it generated revenue of $679.5 million in the first quarter, up 2.4% from the same time a year ago. But that disappointed Wall Street, which was looking for revenue of $690 million.

HAS noted that sales of girls toys jumped 21% to $138.7 million during the quarter, while boys toys increase 2.1% to $247.8 million. By contrast sales of preschool products and games sank by 3.6% and 4.5%, respectively.

Input costs at HAS declined 3.4%, while Hasbro’s gross margin increased from 59.7% to 61.9%.

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Article printed from InvestorPlace Media, http://investorplace.com/2014/04/hasbro-beats-street-strong-girl-toy-sales/.

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