Hasbro’s bet on board games pays off

Hasbro'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 its 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 such as 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.

'Hasbro's gaming portfolio is unparalleled,” CEO Brian Goldner said on a call with analysts. 'It addresses broader demographics and play experiences better than any other company.”

Hasbro shares advanced as much as 17 percent to $96.34 on Friday, the biggest intraday gain February 2001. The stock already had gained 10 percent in the 12 months through Friday.

When computer tablets went mainstream earlier this decade, sales of traditional games suffered as consumers spent more time on mobile devices. That trend has since waned as adults and kids have reverted back to in-person experiences. Last year, industrywide sales of games in the United States rose 21 percent to $307 million, according to NPD Group.

Hasbro gained share in major markets including the United States, the United Kingdom, China, Brazil and Russia, Goldner said. The toymaker saw strong demand across the world, especially in the United States, he said.

That countered Mattel, which said sales significantly slowed down in the first three weeks of December.