Hasbro profit falls, sales slow

Investor's Business Daily

The toy maker's Q1 profit plummeted 67% to 4 cents a share, missing analyst estimates by 4 cents. The drop came amid slower sales of its Monopoly board games, Nerf foam blasters and other toys. Revenue edged down 3% to $648.9 mil, below forecasts. Hasbro (HAS - News) didn't immediately provide guidance, but hoped that the summer sequel for the "G.I. Joe" movie franchise will help later this year. Shares fell 5.2%. Elsewhere in the group, which is ranked 138 of the 197 industries IBD tracks, rival Mattel (MAT - News) fell 0.8%.

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