Hasbro sales down in fourth quarter

According to the Providence Journal, Hasbro faced slow sales at the end of last year:

PAWTUCKET, R.I. (AP) -- Hasbro says that people bought fewer toys than it had expected during the crucial holiday season and says revenues will probably decline for both the fourth quarter and the year.

The company, which makes products like Transformers action figures and the game Scrabble, said Friday that full-year revenue will be $4 billion, lower than the $4.07 billion reported last year.

Analysts were looking for revenue of $4.12 billion, according to FactSet.

Fourth-quarter revenue is expected to be down 7 percent to $1.3 billion.

The company says it expects a modest increase in earnings per share for the year compared with last year's $2.48 per share. Analysts are expecting $2.70 per share.

Can we just say "duh?" Did Hasbro even ship anything in the fourth quarter? Iron Man continued to flow like molasses, Transformers were steady (i.e., there was product, but it was all the same stuff that had been there for months) and there didn't seem to be any GI Joe figures at all. Want better sales at the end of the year? Then ship product we didn't already buy in the previous two quarters.

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