Hasbro profits slip 1% in Q4

The holidays weren't as giving as Hasbro had hoped. The nation's second-largest toymaker saw profits slip 1% during the fourth quarter, when companies like Hasbro usually generate a large portion of their annual sales. While revenue did rise 4% to $1.3 billion, driven by overseas sales and gains in Hasbro's boys and preschool lines, profits came in at $139.1 million for the three-month period that ended Dec. 25. Sales were off 2% in the U.S. and Canada to $593 million but rose 8.4% overseas to $669.8 million. Hasbro saw softer returns from its girls, games and puzzles groups, which includes Battleship, Monopoly, Risk, Ouija and Candy Land, all properties being adapted into films. "Battleship" sets sail in May. "We did not meet our expectations for growth in the U.S. and Canada segment, as we experienced weaker demand than we had anticipated, especially post-Thanksgiving, including challenges in the games and puzzles category," said Hasbro president and CEO Brian Goldner, adding that the company will now put new leadership in charge of the division to boost sales. That group already has been updating boardgames by adding new interactive technologies or creating digital versions for online play. "We continue to believe that through a combination of face-to-face, off-the-board and digital gaming, there is an opportunity to grow our gaming business," Goldner said in a conference call with analysts. Goldner also believes adaptations of Hasbro's properties as films and TV shows will also help increase interest in the toy aisles at retailers. It has products set to target its growing boys biz around the films "Battleship," "The Amazing-Spider Man" and "G.I. Joe: Retaliation." Films and TV shows on its kids cabler the Hub helped entertainment and licensing revenue climb to $64.1 million from $53.5 million during the quarter. Contact Marc Graser at marc.graser@variety.com