Hasbro and Mattel Stocks Soar Despite Sales Declines

Hasbro and Mattel, the two largest US toy manufacturers, have reported declining first-quarter sales, but their stock prices have risen despite the downturn. Hasbro's stock price rose by over 12%, while Mattel's rose by nearly 6%. Both companies have implemented cost-cutting measures and worked to reduce excess inventory, which has helped to improve their financial positions.

Hasbro reported a 24% decline in revenue, attributed to the sale of its eOne film and television unit and decreased consumer sales. However, the company's digital gaming and entertainment segments saw positive growth. Mattel reported a 1% decline in overall sales, with strong performance in North American sales. Both companies are looking to 2025 and beyond, hopeful that they are well-positioned for long-term growth.

The turnaround efforts of both companies have been well-received by Wall Street, as they have helped to improve their financial positions and streamline their operations. Investors are optimistic that the two toy giants will be able to regain their momentum and return to growth in the coming years.