Hasbro Surges Most in 16 Years After Bet on Board Games Pays Off
- Stock surges most since 2001 on robust fourth-quarter results
- Games like Monopoly, Pie Face help sales exceed estimates
A game piece sits on the board game Monopoly, manufactured by Hasbro.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Hasbro Inc.’s decision to stick by Monopoly and other traditional games -- a daring move in an increasingly digital world -- is paying off after a robust holiday season boosted the shares the most in 16 years.
The toymaker bucked lackluster results at Toys “R” Us Inc. and Mattel Inc., thanks in large part to games like “Pie Face” and “Magic: The Gathering.” The unit increased sales 11 percent to $518.7 million in the fourth quarter, the company said on Monday. That, along with its first Christmas season with the primary Disney Princess and Frozen license, helped the company top analysts’ estimates for profit and sales.