Toymaker Hasbro reported fourth quarter revenues which fell 2.1% on a year earlier, which was nearly 7% below management guidance according to CNBC. The shortfall was blamed on weak sales of partner brands including Star Wars.

The slowdown shouldn’t have been a surprise. Panjiva data shows that while U.S. seaborne imports of Hasbro’s partner brand toy products rose 9.0% on a year earlier for the last four months of the year overall, shipments in November and December were 9.5% lower. That pattern would suggest a degree of overstocking earlier in the season. The financial struggles of Toys’R’Us will also have been a problem, as outlined in Panjiva research of January 24.

Chart segments U.S. seaborne imports of Hasbro partner brand toys by month. Source: Panjiva

One area of uncertainty for toy sales in the early part of the year is the release of the next film in the (“ Solo – A Star Wars Story”) franchise due in May. That compares to December release dates for the prior films. So far, however, there has been little sign of a pickup in Star Wars related imports, with shipments in January actually down 40.8% after a 55.6% slide in the fourth quarter. Retailers may need to look for a new hope elsewhere.

Chart shows U.S. seaborne imports of “Star Wars” merchandise. Source: Panjiva