Hasbro’s sales growth poised to overtake Mattel as TV and movie businesses rebound


A Monopoly board game from Hasbro Gaming is seen in this illustrative photo on August 13, 2017. REUTERS / Thomas White / Illustration / File Photo

July 23 (Reuters) – Hasbro Inc (HAS.O) is expected to overtake Mattel Inc (MAT.O) in quarterly sales growth for the first time since the start of the pandemic, as return of Marvel superheroes spurs toy sales and its Television and film productions are back on track.

Board game maker Monopoly, which will release second quarter results on Monday, has high hopes for its Entertainment One unit, the studio behind “Peppa Pig,” which has returned to growth after a year of heavy COVID production constraints -19.

The release of “The Falcon and the Winter Soldier” and “Black Widow” is also expected to contribute to Hasbro’s estimated second quarter revenue increase of 34.7% from sales of toys based on popular franchises.

Meanwhile, Mattel’s second-quarter sales growth is expected to slow to 19.2% from 47.2% in the first quarter.

“I can see Hasbro taking back some of that lost share in Mattel, with the sales it will get with the new films released this year,” said Jackie Breyer, publisher of The Toy Book magazine.

THE CONTEXT

The shutdown of TV and film production and the lack of toy sales linked to major movie releases, on which Hasbro is more dependent than rival Mattel, resulted in a 29% drop in pro forma revenue in the second quarter of the year. previous despite higher demand. for games like “Jenga” and “Twister”.

Analysts expect Hasbro to provide an outlook for the holiday season as supply disruptions and price increases cause uncertainty about the nature of consumer demand during the crucial shopping period.

FUNDAMENTALS

* Hasbro is expected to report revenue of $ 1.16 billion, according to the average estimate of 12 analysts, based on Refinitiv data.

* Earnings per share is estimated at 47 cents per share.

* Hasbro shares have lost 0.3% year-to-date

* The average analyst rating for stocks is “buy”, with a 12-month median price target of $ 112.

In addition to this, you need to know more about it.

In addition to this, you need to know more about it.

Uday Sampath report in Bangalore; Editing by Anil D’Silva

Our Standards: Thomson Reuters Trust Principles.

Previous Thieves Steal Nearly $ 3,000 In Cosmetics From Ulta Store In Pembroke Pines - WSVN 7News | Miami News, Weather, Sports
Next Discover the evolution of beauty in two decades from Jennifer Lopez