Global toymaker Hasbro is crediting major Disney brands for its better than expected growth of sales in Q1, taking in $831.2 million in overall revenue so far this year — a 16% climb in first-quarter sales. According to Fortune, the boost can be largely attributed to strong worldwide demand for Star Wars goods and the inclusion of a new license tied to the popular Disney Princess brand.
The company saw broad growth in Q1, with “boys” toys sales up 24% and “girls” toys growing an impressive 41%. The overall revenue total for the quarter increased $117.7 million .The positive news nudged Hasbro shares up about 5%.
Analysts point out the increase is atypically dramatic, as the first quarter is usually a slow one for toy makers, which usually see their strongest sales in the last three months of the year thanks to winter holidays. Hasbro has been helped by the late 2015 release of Star Wars: The Force Awakens and from taking over the Disney Princess fashion doll licensing business from Mattel.
The lucrative Princess line will gain a touch of diversity this year with the launch of Disney Junior series Elena of Avalor — centered on a Hispanic heroine — and Disney animated feature Moana, set in ancient Oceania. Hasbro’s partnership with Disney also includes Marvel properties with upcoming movies like Captain America: Civil War and next year’s Spider-Man.