Toymaker Hasbro Inc reported a surprise fall in quarterly revenue on Wednesday, hit by a decline in sales of its toys based on the Star Wars franchise in the holiday season.
The company’s shares fell 4.2 percent to $90 before the bell. The maker of My Little Pony and Nerf guns warned last October of weak holiday sales due to the bankruptcy of retailer Toys ‘R’ Us, reports Reuters.
A Monopoly board game by Hasbro Gaming is seen in this illustration photo
Net revenue from the company’s partner brands, which includes toys based on movie franchises such as Star Wars and Marvel superheroes, fell 21 percent to $342.9 million.
The Pawtucket, Rhode Island-based company’s revenue fell 2.1 percent to $1.6 billion, while analysts had expected it to rise to $1.72 billion. Excluding items, the company earned $2.30 per share.
Hasbro reported a net loss attributable to the company of $5.3 million, or 4 cents per share, in the fourth quarter ended Dec. 31, due to a $296.5 million charge related to the U.S. tax overhaul. A year earlier, the company posted a profit of $192.7 million, or $1.52 per share.
