Following an Epic NYC Premiere Event, Basic Fun! Invites Fans Around the World to Unleash the Bobble with a Custom Song and Dance Challenge Inspired by the PetsBOCA RATON, Fla., April 4, 2024 /PRNewswire/ -- Today, LITTLEST PET SHOP, one of the most well-known collectible toy brands in history, released a call to action to fans around the world to 'unleash the bobble'. In celebration of the franchise's long-anticipated return to retail in January – this is sure to be the "Year of the Bobble"! Debuting last ...

It’s been decades since I last played Monopoly, but the board game comes to mind when contemplating the commentary of the members of the Monetarist School. Consider the play money that comes with the game.No doubt Monopoly participants would find it difficult to compete without it. At least for a few minutes. In a game about achieving monopoly, the fake money is the way players keep score. For Monopoly to be a game, money is needed. Hasbro HAS supplies it. Members of the Monetarist School seem to have inter ...

It has been about a month since the last earnings report for Hasbro (HAS) . Shares have added about 0.7% in that time frame, underperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Hasbro due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. Hasbro Q4 Earnings & Revenues Miss EstimatesHasbro rep ...

Financial Performance - Net revenues for Hasbro in 2023 were $5,003.3 million, a decrease of 15% from $5,856.7 million in 2022, with a favorable foreign currency translation impact of $20.6 million[234]. - Operating losses in 2023 were $1,538.8 million, representing 30.8% of net revenues, compared to an operating profit of $407.7 million, or 7.0% of net revenues in 2022[234]. - Net losses attributable to Hasbro, Inc. were $1,489.3 million in 2023, or $10.73 per diluted share, compared to net earnings of $203.5 million, or $1.46 per diluted share in 2022[240]. - Consolidated net revenues for the year ended December 31, 2023, declined 15% to $5,003.3 million from $5,856.7 million in 2022, with a favorable foreign currency translation impact of $20.6 million[248]. - The overall operating profit for the company was a loss of $1,538.8 million in 2023, compared to a profit of $407.7 million in 2022[282]. Segment Performance - The Consumer Products segment saw a 19% decline in net revenues to $2,886.4 million, while the Wizards of the Coast and Digital Gaming segment increased by 10% to $1,457.6 million[234]. - The Entertainment segment experienced a 31% decline in net revenues to $659.3 million in 2023[234]. - Franchise Brands net revenues decreased 3% in 2023 to $3,256.5 million, primarily due to lower sales from NERF, Hasbro Gaming, and PLAY-DOH products, partially offset by increases from DUNGEONS & DRAGONS and TRANSFORMERS[253]. - Partner Brands portfolio net revenues declined 35% in 2023 to $687.8 million, driven by lower sales from DISNEY FROZEN and DISNEY PRINCESS products due to expired license agreements[254]. - The Consumer Products segment net revenues fell 19% in 2023 to $2,886.4 million, while the Wizards of the Coast & Digital Gaming segment grew 10% to $1,457.6 million[266]. Impairment Charges - Non-cash goodwill and asset impairment charges in 2023 totaled $1,278.2 million, or $9.20 per diluted share, primarily related to the eOne Film and TV business and Family Brands[243]. - The Company incurred net charges of $253.0 million related to the strategic review and Blueprint 2.0 strategy shift, including $231.9 million in net asset impairments[247]. - A net charge of $116.1 million was recorded for the sale of eOne's music business, including a non-cash goodwill impairment charge of $108.8 million[247]. - The Company recorded a non-cash goodwill impairment charge of $231.2 million for its Film and TV reporting unit due to the impact of strikes, resulting in delayed production and lower cash flow forecasts[381]. - The Company recorded a non-cash goodwill impairment charge of $960.0 million for the Family Brands reporting unit, reflecting a strategic shift and lower profitability forecasts for the PJ MASKS franchise[382]. Strategic Initiatives - Hasbro's strategic plan, referred to as Blueprint 2.0, focuses on fewer, bigger, and more profitable brands while investing in direct-to-consumer relationships and digital gaming[233]. - The company is pursuing a franchise-first approach to enhance brand experiences through licensing and digital games[233]. - Hasbro's operational savings initiatives include supply chain transformation aimed at improving operating results and reinvesting in the business[233]. - The Company announced an Operational Excellence program, incurring net charges of $89.2 million, including $79.8 million in severance expenses[247]. Cash Flow and Liquidity - In 2023, Hasbro generated $725.6 million in cash from operating activities, an increase from $372.9 million in 2022, but a decrease from $817.9 million in 2021[355]. - Net cash flows provided by investing activities were $117.6 million in 2023, compared to a net cash outflow of $313.0 million in 2022 and inflow of $242.0 million in 2021, primarily due to $329.6 million from the sale of the eOne Film and TV Business[356]. - The company expects to meet its working capital needs for 2024 through available cash, cash flows from operations, and potential borrowings, including a repayment of $500.0 million in long-term debt due in November 2024[344]. - As of December 31, 2023, the company's cash and cash equivalents totaled $545.4 million, reflecting a 6% increase from $513.1 million in 2022[345]. Inventory and Assets - Inventories decreased by 51% in 2023 to $332.0 million, due to efforts to reduce retail inventory levels and improve inventory quality[348]. - Accounts receivable, net decreased by 9% in 2023 to $1,029.3 million, driven by the sale of the eOne Film and TV business and lower revenues[347]. - Other assets decreased by 46% in 2023 to $862.0 million, largely due to the removal of long-term asset balances from the sale of the eOne Film and TV business[350]. - The Company's inventory levels decreased by 51% in 2023 compared to 2022, reflecting efforts to reduce retail inventory while improving quality[406]. Expenses and Liabilities - Total operating expenses as a percentage of net revenues increased in 2023, with cost of sales at 34.1%, program cost amortization at 9.0%, and royalties at 8.6%[303]. - Interest expense increased to $186.3 million in 2023 from $171.0 million in 2022, primarily due to higher interest rates on variable-rate loans[329]. - The Company has a total liability of $103.3 million related to the Tax Act, with $45.9 million due in 2024 and $57.4 million as the final installment due in 2025[345]. - The Company has a liability of $47.4 million related to potential tax, interest, and penalties for uncertain tax positions as of December 31, 2023[396]. Market and Economic Factors - Inflation significantly impacted the Company's operations in 2022 and 2023, potentially affecting consumer purchases and operational costs[409]. - The bankruptcy of a significant retailer could negatively impact the Company's future revenues[407]. - Revenue patterns from the Company's entertainment businesses fluctuate based on content release timing and popularity[408]. - The Company may need to implement price adjustments to mitigate the impact of inflation on its business operations[409].

The reviews are in, and Dungeons and Dragons (DND) is a hit!According to movie review site Rotten Tomatoes, last year's Dungeons & Dragons: Honor Among Thieves (HAT) fantasy flick won a 91% rating from critics, and 93% approval from audiences -- and collected $93.2 million in U.S. box office receipts. BoxOfficeMojo points out that, when you add in global box office figures, that number swells to $208.2 million. But that probably wasn't enough cash to make HAT profitable for Paramount (PARA 0.40%), its distr ...

While the toy-manufacturing industry obvious targets young kids, they also enjoy a robust market for kids at heart, thus highlighting the opportunities in toy stocks. Easily, what’s most compelling about this particular topic is the suddenly expanded addressable market.Primarily, an investor would ordinarily consider demographic data to identify upside prospects in toy stocks. After all, large families with young children present a prime tailwind. However, toy companies are also noticing that thanks to dyna ...

Toy manufacturers are revealing dismal results for the holiday season as shoppers scooped up far fewer dolls and action figures than last year – and experts say there’s no relief in sight.Hasbro’s disappointing fourth quarter – sales tumbled 23% compared to a year ago, the company said on Tuesday – comes on the heels of archrival Mattel’s flat sales forecast for 2024 last week.Despite the box office success of the Barbie movie that also goosed sales of Barbie dolls, Mattel’s chief executive Ynon Kreiz is s ...

Hasbro may be seeing digital growth via its gaming business, but as consumers buy fewer nice-to-have products, the toys and games company continues to struggle.The Rhode Island-based company shared in its fourth quarter and full year 2023 financial results that it saw a 10% year-over-year revenue increase in its “Wizards of the Coast and Digital Gaming Segment” for the year, but this digital growth came amid a 15% decline in revenue overall.“Our investments in digital and digital gaming are foundational to ...

Hasbro, Inc. (HAS) reported tepid fourth-quarter 2023 results, wherein earnings and revenues missed the Zacks Consensus Estimate and declined year over year.The quarter’s downtrend was primarily attributable to the low contributions from the Consumer Products and Entertainment segments, partially offset by growth in the Wizards of the Coast and Digital Gaming segment. The challenging macroeconomic scenario was discouraging for the company’s prospects.Nonetheless, the company’s intent focus on enhancing and ...

Monopoly maker Hasbro had a rough 2023, with sales down 23% in the fourth quarter. (Photo by Scott ... [+] Olson/Getty Images)Getty ImagesHasbro executives tried to put a positive spin on their 2023 results, released today, saying steep revenue declines reflect costs associated with its efforts to transform itself into a leaner, more focused, and more profitable toy company.The toy manufacturer reported fourth quarter sales of $1.28 billion, down 23% from the previous year, below analysts expectations. Full ...