Strong Sales of Star Wars Toys Help Boost Hasbro
Via: CNBC
Strong sales of “Star Wars” and “Frozen 2″ toys helped boost Hasbro’s holiday sales during the fourth quarter, sending shares higher Tuesday.
Revenue from Hasbro’s partner brands unit, which includes sales of toys based on entertainment franchises, rose nearly 50% to $408.5 million in the fourth quarter.
For the full year partner brands rose 24% to $1.22 billion. The company pointed to strong sales of “Frozen 2,” “Avengers,” “Spider-Man” and “Star Wars” lines for the increase. Hasbro currently owns the master toy license for Disney’s Marvel and Star Wars franchises as well as Frozen and Disney’s collection of princesses.
The strength of these sales is proof that Hasbro’s partnership with Disney continues to be a lucrative and stabilizing one, particularly in a post-Toys R Us world. Toymakers have had to rely more heavily on Amazon, Walmart and Target, as well as shelf space in drug and grocery stores. Retailers have seen that licensed brands can more easily draw in customers because children enjoy reenacting scenes from popular movies and TV shows.
Hasbro CEO Brian Goldner said the partnership with Disney is “very successful” and noted that “The Rise of Skywalker” and “The Mandalorian” have been big drivers of sales for the company. He said the Mandalorian Black Series figure, which is a high-end collectible with more articulation and detail than a traditional action figure, from the Disney+ show “The Mandalorian” was one of the top sellers in the fourth quarter.
“We’re incredibly excited that ‘The Mandalorian’ season two will come to Disney+ this fall,” he said during an earnings call Tuesday.
Additionally, the company is excited for the new season of “The Clone Wars” coming to Disney’s streaming service in mid-February.
