Hasbro's third quarter profit rose 8.8%. This is largely due to toys created by Hasbro relating to major blockbuster movies, such as, Transformers 2, and G.I. Joe. Hasbro's gross margin rose to 57% from 55.9%. Recently, Hasbro's stocks fell 1.17, or 4%, to $28.35. Overall sales for Hasbro dropped during the third quarter, due to unfavorable foreign-exchange rates. This happened at a poor time, just as entertainment and licensing revenues had began to rise. On a more positive note, Hasbro brought back 1.1 million shares, for $32.4 million over the period.
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ReplyDeleteI can understand why toys would add to the financial success for movies. Kids not only enjoy seeing movies like Transformers 2 ad G.I. Joe, but seeing toys on the shelves of stores excites them even more and leaves their parents with no choice but to buy them. Our group invested in companys like Microsoft and Apple with the assumption that older kids will be eager to ask their parents for electronics made by Microsoft and Apple for the upcoming Christmas season.
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