FILE - In this Oct. 2, 2007 file
photo, Hasbro's Transformers Arm Blaster is shown at the Toy Wishes
Holiday Preview in New York. Toy maker Hasbro Inc. said Monday, July
20, 2009, its second-quarter profit rose 5 percent, beating
expectations, as robust sales of Transformers and G.I. Joe toys _ both
tied to summer movies _ helped offset international sales hurt by the
stronger dollar. (AP Photo/Mark Lennihan, file)MAE ANDERSON
AP Business Writer
NEW YORK (AP) -- Transformers aren't just titans at the box office, they're flying off toy shelves, too. Toy maker Hasbro Inc. said Monday strong sales of the morphing robots helped its second-quarter profit rise past analyst expectations.
Summer movie tie-in toys have been one bright spot for toy makers during the consumer-spending slowdown. Hasbro has been buoyed in recent years by toys tied to movies, including this summer's hit "Transformers: Revenge of the Fallen" and the upcoming "G.I. Joe: "The Rise of the Cobra."
"We couldn't be more pleased with the performance both at the box office and at retail," said CEO Brian Goldner. "Retailers around the world recognize that certain brands like Transformers bring to life the entire store for consumers, which translates into premium placement and representation across multiple departments for those brands."
Continue reading 'Transformers' toy maker Hasbro beats 2nd-quarter profit expectations.
