The Associated Press is reporting that Hasbro has posted higher profits than expected, raising 8.8%, buoyed by strong boys toys sales. The article says specifically:
“Hasbro Inc, the nation’s second biggest toymaker, said Monday its profit rose 8.8 percent in the third quarter, helped by lower costs and slightly higher sales of Transformers and G.I. Joe toys.
Hasbro said its earnings rose to $150.4 million, or 99 cents per share, for the three months ended Sept. 27, up from $138.2 million, or 89 cents a share, a year ago.”
While I’m sure Transformers: Revenge of the Fallen played a larger role in the profits arena than Rise of Cobra did, it’s nice to see G.I. Joe getting some credit for raising some capital for parent company Hasbro as well. Read the full article here, as well as a report on WallStreetJournal.com.
…..And yet, they can’t make a leatherneck without the gung-ho head….
I dunno. I’d venture a guess that G.I. Joe played a larger role than Transformers did as far as toys go. Or at least more than most would expect. The only TF toy that I’ve seen anyone buy was the biplane one that I did. But, good news all the same for one of the few companies that is actually working to establish a better relationship with their customers than most other companies. I know we complain a lot that we aren’t as loved as the TFans and the Star Wars fanboys, but they still do a lot for us that other toy companies wouldn’t bother to do.
Hey, that’s good news for those of us that are stockholders. :shifty:
hey hasbro…youre welcome.
I dunno, I see a lot of ROC product warming the shelves in the stores around me. I worry it will be like the Indiana Jones line; overbought by retailers in the beginning, which killed interest when no new figures were being stocked on the shelves.
I do hope Hasbro does well, and glad to hear they are reporting strong toy sales. I’m just not seeing evidence of it in the stores around me.
Since the retail price of figures is up 13% ($7 to $8), and the vehicles well over 100% (considering we were getting two alpha vehicles for $15, now it is one for $17), I guess that explains the increase in profits.
Seriously though, remember this is for the quarter, and sales were brisk when collectors first jumped on the RoC line after having had nothing for the first half of the year. It will be interesting to see if sales continue through the Holiday season, considering that the shelves are clogged with old product which is preventing the new product from getting into consumers’ hands.
“I’d venture a guess that G.I. Joe played a larger role than Transformers did as far as toys go. Or at least more than most would expect. The only TF toy that I’ve seen anyone buy was the biplane one that I did”
Were you at the stores all day long all week long monitoring people buying stuff?
Because Transformers sells, but Transformers also restocks. My TRU puts out two whole cases of Deluxes every couple of days.
GIJoe, less so, but they still stock them.
The problem is that the later cases do feature earlier wave stuff. So every time Helix and General Hawk make it back to the pegs… so do Heavy Duty, Accelerator Suit Ripcord, Cover Girl… so the pegs get cluttered with them because most already got theirs.
IDK….I see ROC peg warming and besides the fan boys in the first 3 weeks I havent seen anyone(KIDS) buying them. Its the same figs everytime in the same spot over and over…even with the Target price decrease. I think Hasbro’s profit rise of 8.8% is due more to TF then Joe……I always see kids buying TF not so much Joes….
This is good!
I wonder though, my company works with a freight company that has been cutting costs all across the board, from a 62 MPH speed restriction on trucks to no employees being allowed to accumulate vacation time this year, etc, etc. The freight company also quickly had its biggest profit quarter in company history.
So naturally, our main guy that we see did ask the question of whether or not they could get some of the cost-cut benefits back then…we heard the room was quiet up at the leader-end of the table…
Either way, I like to hear companies doing good.