Under pressure by foreign exchange rates, Hasbro’s second quarter net revenues were down 4 percent compared to last year (to $797.7 million). The results, however, were better than expected by analysts, moving the company’s stock price to close up 6 percent on Monday.
Before the impact of foreign exchange, Hasbro’s revenues were up 5 percent. The girls category dropped 22 percent compared to the same quarter of last year, games 6 percent. However, when comparing the first 6 months of 2015 to that of 2014, the games category was flat. This difference was driven mostly by the change in Magic: The Gathering’s release schedule. In 2014 the major release was in the second quarter. In 2015 it was in the first. A “restaging” of Duel Masters in Japan was also a contributing factor.
Results in the second quarter were mixed among Hasbro’s franchise brands as well. Magic: The Gathering, Transformers, and Furby were down. Littlest Pet Shop, Monopoly, My Little Pony, Nerf, and Play-Doh were up. So were Marvel and Jurassic World.
CEO Brian Goldner said traditional board games in particular were up “a bit” in the second quarter. In addition to Monopoly, Clue, Trouble, and Twister performed well.
Looking forward, Goldner spoke optimistically about Monopoly Here and Now, Pie Face, games for the Minions and Star Wars movies, and the…
Magic: The Gathering Arena of the Planeswalkers game, which gives us a new footprint in the strategy board gaming category.