Toy maker Hasbro says Furby and Monopoly shine in first quarter
Toy maker Hasbro Inc. reported modest revenue growth in the first quarter, backed by solid sales of Furby, My Little Pony and Transformers games.
The Pawtucket, R.I., company also said Monday that an online contest to create a new token for its iconic Monopoly game was “tremendously successful.”
Fans voted to eliminate one of the eight game tokens that players use and create a new one. A cat token beat out a toy robot and a guitar to replace the iron, which had been a staple of the board game since the 1930s.
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Hasbro said its sales geared to girls increased 23% in the quarter, while products aimed at boys slumped 20%. Revenue for Play-Doh, Playskool and other preschool products went up 8%, according to the company.
Last week, rival Mattel Inc. reported strong sales of dolls such as Monster High and American Girl, which helped drive a big increase in first-quarter profits.
Hasbro said it had a net loss in the quarter ended March 31 of $6.7 million, or 5 cents a share, compared to a loss of $2.6 million, or 2 cents a share, a year earlier. Revenue in the quarter grew 2% to $663.7 million.
Shares of Hasbro were up $1.30, or nearly 3%, to $46.32 in Monday trading.
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