Last Updated on December 23, 2019 by Danielle
Hasbro shows strong growth for the second quarter of 2017.
Hasbro recently reported an eleven percent increase for Q2 2017. This was the result of continued growth from franchise brands, the Hasbro Gaming division, and its partner brands.
On an international level, Hasbro’s revenue increased by nearly $427 million. A major factor in this growth was due to the Asia Pacific market – which grew 18 percent.
Entertainment and licensing sales declined by one percent, dropping to about $52 million. Meanwhile, franchise brand sales grew more than 20 percent while partner brand sales grew by one percent. Additionally, Hasbro Gaming grew by six percent, driving sales to almost $114 million. All of these were key in driving that eleven percent increase in performance.
According to Brian Goldner, Hasbro’s CEO, what led to the strong quarter was the team’s solid execution. Story-driven brands and innovative strategies helped to drive Hasbro’s revenue growth and drive positive operating profit. In direct comparison, for the second quarter of 2017, Mattel had a nearly a $49 million dollar operating loss. In all fairness, certainly there may be other factors driving these big losses for Mattel like investments, key strategic acquisitions, even the nature of their business operating structure.
Mr. Goldner also mentioned that franchise, gaming, and partner brands all experienced positive growth while revenue grew in every geographic area. Hasbro came well-prepared for the second quarter and delivered a wide offering coupled with enticing brand strategies to appeal to its target audience. Now equipped with strong momentum from the first half of the year, it is gearing up to close out the year strong with a solid third and fourth quarter.
As you may or may not know, most of Hasbro’s new toys will be launched in Fall 2017 for the key Holiday 2017 season. Gear up for new Nerf blasters, new innovations with classic Play-Doh, new licensed movie tie-in toys including Star Wars: The Last Jedi, Transformers: The Last Knight, and My Little Pony: The Movie plus Disney Frozen. Other notable hits include Disney Princess Royal Shimmer Belle from Beauty and the Beast, Disney Princess Rapunzel, the latest version of Monopoly, Monopoly Gamer Edition, Pie Face Sky High. And also Tickle Me Elmo will be making a comeback in 2017. There’s a ton of exciting stuff to look forward to from Hasbro!