Dive summary:
- Hasbro CFO Deborah Thomas announced that her company plans a 30% to 40% increase in spending on ads during the fourth quarter across television, social media and online.
- Hasbro exceeded profit expectations in the third quarter.
- Net profits for Hasbro in the third quarter year to year fell $6.1 million.
From the article:
Hasbro's toy unit for girls, reinvigorated by the launch of hot toys such as Furby, saw a 17 percent rise in revenue, but sales at its boys' unit fell 12 percent, and those at its preschool division lost 5 percent.
