Hasbro reports Q3 U.S. and Canada segment net revenues up 16% to $932.8M
Third quarter 2016 U.S. and Canada segment net revenues increased 16% to $932.8 million compared to $803.8 million in 2015. Revenue growth in the Girls and Games category more than offset declines in the Boys and Preschool categories. The U.S. and Canada segment reported 22% operating profit growth to $228.0 million, or 24.4% of net revenues, compared to $187.1 million, or 23.3% of net revenues, in 2015. International segment net revenues increased 13% to $690.7 million compared to $612.6 million in 2015. Revenues grew in the Boys, Girls and Preschool categories, and was flat in the Games category. On a regional basis, Europe grew 16%, Latin America increased 9%, and Asia Pacific was up 1%. Emerging markets revenues increased 16% in the quarter. Excluding an unfavorable $3.0 million impact of foreign exchange (FX), International segment revenues grew 13%, increasing 17% in Europe ($0.5 million negative FX impact), 12% in Latin America ($3.2 million negative FX impact) and 1% in Asia Pacific ($0.7 million favorable FX impact). Emerging markets increased approximately 15% absent the impact of foreign exchange. As reported, International segment operating profit grew 17% to $133.1 million, or 19.3% of net revenues, compared to $114.2 million, or 18.6% of net revenues, in 2015. Entertainment and Licensing segment net revenues increased 8% to $56.1 million compared to $52.1 million in 2015, driven by growth in Consumer Products and Digital Gaming. The Entertainment and Licensing segment operating profit decreased 13% to $14.1 million, or 25.1% of net revenues, compared to $16.2 million, or 31.2% of net revenues, in 2015.