Indy and Transformers are heroes for Hasbro
http://business.timesonline.co.uk/tol/business/ind [2008-7-23]
Tag : for transformers
Strong sales of toys based on characters from films such asTransformers and the latest instalment of Indiana Jones have helpedHasbro to a higher-than-expected quarterly profit.
America's second-largest toy company said that second-quarterprofits had risen to $37.5 million (£18.8 million) from$4.8million a year earlier and sales had risen 13 per cent to$784.3 million. The owner of brands such as GI Joe and Playskoolsaid that sales outside North America had risen by 15 per cent to$293.7 million, helped by the weak dollar.
Hasbro said that it intended to raise prices by mid-single digitsfrom September 1, however, to reflect rising manufacturing andtransport costs and to protect margins. Its shares were down 19cents, about 4 per cent, to $37.80 in midday trading.
Toy companies such as Hasbro and Mattel, America's largesttoymaker, look to the holiday months for the lion's share of theirannual sales, but there are fears that demand will be dampened byrising fuel and food prices. David Hargreaves, Hasbro's chiefoperating officer, said: “While input cost inflationcontinues to be challenging, thus far we have been able to mitigatemost of the impact through cost savings and pricing actions.”
Strong sales of toys based on characters from films such asTransformers and the latest instalment of Indiana Jones have helpedHasbro to a higher-than-expected quarterly profit.
America's second-largest toy company said that second-quarterprofits had risen to $37.5 million (£18.8 million) from$4.8million a year earlier and sales had risen 13 per cent to$784.3 million. The owner of brands such as GI Joe and Playskoolsaid that sales outside North America had risen by 15 per cent to$293.7 million, helped by the weak dollar.
Hasbro said that it intended to raise prices by mid-single digitsfrom September 1, however, to reflect rising manufacturing andtransport costs and to protect margins. Its shares were down 19cents, about 4 per cent, to $37.80 in midday trading.
Toy companies such as Hasbro and Mattel, America's largesttoymaker, look to the holiday months for the lion's share of theirannual sales, but there are fears that demand will be dampened byrising fuel and food prices. David Hargreaves, Hasbro's chiefoperating officer, said: “While input cost inflationcontinues to be challenging, thus far we have been able to mitigatemost of the impact through cost savings and pricing actions.”
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