Habsro’s “Star Wars: The Force Awakens” toys are selling like hot cakes. Unfortunately, not the same thing can be said of the company’s shares.
According The Hollywood Reporter, the upcoming "Star Wars" installment's toys are doing really well in the market with Hasbro CEO Brian Goldner even recognizing that it's off to a promising start and that toy sales are "at the high end of expectations."
The figures of the toys are better than the expected earnings of the company. Goldner noted during the conference call for Hasbro's third-quarter earnings, "The franchise is as vibrant as ever, spanning demographics and bringing in new consumers. Star Wars has the potential to become increasingly global, much as Marvel has become as part of the Walt Disney Co."
Goldner also singled out that its lightsabers and the Black Series action figures are currently doing well and continue to remain on top of consumer's buying list.
Despite the strong sales of the "Star Wars: The Force Awakens" toys, the shares of the company fell short for the most part and missed the estimates made by analysts.
Analysts projected the company to earn $1.48 billion, but Hasbro only posted $1.47 billion in revenue in the previous quarter.
The noticeable decline could be seen in the girls brands like My Little Pony and Furby, with Bloomberg reporting a 28 percent dip.
On Monday's closing, Hasbro's shares fell 7.2 percent to $72.18, and it was the worst or the biggest decline in the company's share since Aug. 2011.
Given the outstanding reception given to the "Star Wars: The Force Awakens" toys, it won't be surprising for the movie that is set for release in December to do well in the box office, as per Forex Report Daily.
"Star Wars: The Force Awakens" stars John Boyega, Daisy Ridley, Harrison Ford, Oscar Isaac, Adam Driver, Mark Hamill, Carrie Fisher, Gwendoline Christie, Lupita Nyong'o and many more.
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