Hasbro heads for the loo and business booms

PAWTUCKET, R.I. — Business for Hasbro is in the toilet, which turns out to be a pretty good place.

The toymaker’s revenue surpassed that of its rival Mattel for the first time in 17 years thanks in part to hot sales of a new board game called Toilet Trouble.

“I never thought I would actually get to talk about this on an earnings call but, you know, Toilet Trouble is off to a very good start,” CEO Brian Goldner told analysts Monday after putting up very strong first-quarter numbers.

Profit in the quarter jumped 41 per cent on rising demand for both mobile games and classics like Monopoly, which saw classic player pieces like the wheelbarrow, thimble and boot replaced by a dinosaur, a penguin and a rubber ducky.

The game Toilet Trouble follows another Hasbro game that became a viral sensation. In the earlier release, called Pie Face, players can get hit with a face full of whipped cream. In Toilet Trouble, players in the board game take turns flushing a plastic toilet that spits water at their faces.

Shares of Hasbro Inc. touched an all-time high Monday, extending shift in fortunes in the toy industry for the Pawtucket, Rhode Island, company.

Rival Mattel reported a disappointing first quarter last week. The maker of Barbie dolls and Hot Wheel cars lost the rights to sell Disney’s princess toys to Hasbro in late 2014. Hasbro started producing the dolls last year and company shares are up about 31 per cent so far in 2017. Shares of Mattel Inc. have fallen about 22 per cent in the same period.

Hasbro said its best performing toys during the first quarter were its games. Revenue for its gaming business soared 43 per cent from a year ago.

Hasbro reported net income of $68.6 million, or 54 cents per share, in the three months ending April 2. That’s up from $48.8 million, or 38 cents per share, a year ago.

Per-share profits easily exceeded industry analyst predictions for 37 cents per share, according to Zacks Investment Research.

Revenue rose 2 per cent to $849.7 million in the period, also beating Wall Street forecasts of $833.3 million easily. Mattel reported revenue of $735.6 million, the first time it has lagged Hasbro since March of 2000.

Shares of Hasbro rose $5.67, or 6 per cent, to close at $101.70 Monday after earlier hitting an all-time high of $104.11.

Just Posted

Christmas Wish Breakfast toy donations almost double

All toys donated Sunday will be given to the Red Deer Christmas Bureau and Red Deer Salvation Army

VIDEO: ‘Party bus’ goes up in flames in Vancouver

Fire crews responded to the late night blaze

Mothers Against Drunk Driving hold candlelight vigil

Four-and-a-half years ago Marilyn Rinas’ husband was killed in a collision with… Continue reading

Thousands expected at memorial for fallen police officer in Abbotsford, B.C.

ABBOTSFORD, B.C. — The streets of Abbotsford, B.C., will be lined with… Continue reading

One person dead, five others injured in early-morning crash in Kingston, Ont.

KINGSTON, Ont. — A man who was checking the damage on his… Continue reading

VIDEO: ‘Party bus’ goes up in flames in Vancouver

Fire crews responded to the late night blaze

Chicken crosses B.C. road, stops traffic

Rooster makes early morning commuters wait in Maple Ridge

Red Deerian honours her brother who died in a motorcycle collision

Houaida Haddad is encouraging Red Deer residents to donate blood

Red Deer County firefighters to be recognized for Waterton help

RCMP brass will give formal recognition Monday

Ron James tries to lighten humanity’s load through humour

The comedian returns to Red Deer for shows Dec. 1 and 2

100+ Women Red Deer donate to Christmas Bureau

About $14,000 will help with Christmas hampers and toys

Semi collides with vehicle on Highway 2 north of Ponoka

Members of the Ponoka Integrated Traffic Unit dealt with a call on Highway 2 north of Ponoka

After 70 years, Red Deer veteran still remembers his traumatic war experience

Frank Krepps feels lucky to have survived the Second World War

Most Read

Five-day delivery plus unlimited digital access for $185 for 260 issues (must live in delivery area to qualify) Unlimited Digital Access 99 cents for the first four weeks and then only $15 per month Five-day delivery plus unlimited digital access for $15 a month