Hasbro Games Increase Sales

Games sales for Hasbro grew by two percent in the first quarter of 2009 compared to the same time period a year ago, according to a recent company announcement. However, overall revenue for the toy maker and game publisher dropped 12 percent (to $621.3 million from $704.2 million) in the same time period, while profit fell from $37.5 million to to $19.7 million.

In a conference call, CEO Brian Goldner said of the drop in profits and revenue, "We don’t believe these results are a reflection of the underlying strength of our brands. Instead this is more a byproduct of inventory being worked down from year end levels and retailers reducing overall inventory levels in the quarter given the challenging economic environment."

Goldner said the best-performing game brands included Scrabble, Sorry!, Connect 4, Guess Who?, and Operation. He also said Hasbro's "family game night" marketing campaign will continue in 2009. "We have a number of marketing initiatives planned at retail as part of our family game night program," he said. "With the difficult economy many families will be staying closer to home this summer and we want to be sure their plans include playing Hasbro's great games."