Although Toys "R" Us had a lot to do with these reports, one company was the clear victor in the clash of the toymakers.
The toy manufacturer reported fourth-quarter earnings of 4 cents per share, which may not compare to the $(0.15) estimate.
The company was said to be slashing 2,200 jobs, which makes up approximately 22% of its global non-manufacturing workforce in July a year ago.
Lower inventory levels at European retailers was almost as impactful as Toys "R" Us' liquidation to Hasbro's overall business, Chief Financial officer Deborah Thomas said, adding that the toy and games market in Europe was also shrinking.
Additionally, revenues declined internationally, mainly in Europe, where Hasbro addressed changing consumer shopping behaviors, a rapidly evolving retail landscape and reduced retail inventory, amidst challenging economies in key markets, notably the United Kingdom.More news: Childish Gambino takes four Grammys for 'This Is America'
Analysts had expected North American gross sales of $829.6 million, according to four analysts polled by Refinitiv.
Hasbro Gaming net sales fell 22% to $267.4 million.
Emerging Brands net sales increased 5% to $119.0 million.
Mattel said that it had $0.04 in EPS and $1.52 billion in revenue.
Excluding certain items, the company earned $1.33 per share, below the average analyst estimate of $1.67 per share.More news: Winter weather forecasted to strike again Tuesday
Mattel Inc reported a surprise quarterly profit on Thursday, as the toy maker benefited from its revamped line of Barbie dolls and its efforts to keep a lid on costs, sending its share soaring 17 percent in extended trading.
One of the key highlights from the report was that Mattel delivered gross margin of 46.6% in the fourth quarter and 39.8% in the full year. This also marks as the largest year-over-year fourth quarter improvement since 2009 for the company.
In terms of its segments, Mattel Power Brands net sales decreased 6% to $1.2 billion, or 3% in constant currency.
Hasbro said it expects to return to revenue and profit growth in 2019, banking on a slew of new big budget Disney movie releases including "Captain Marvel", "Avengers: End Game" and "Star Wars: Episode IX".
The toy industry was a study in contrast in Friday's pre-market trade as Hasbro Inc's stock (NASDAQ:HAS) tumbled after a disappointing quarter due to the collapse of Toys "R" Us while rival Mattel Inc shares (NASDAQ:MAT) rocketed after reporting a robust fourth-quarter. The consensus analyst target is $13.93.More news: The truly odd shape of Ultima Thule