Hasbro reported disappointing holiday sales, which it had anticipated given slowing consumer demand.
Tiffany Hagler-Geard | Bloomberg | Getty ImagesThe toymaker on Thursday announced its fourth-quarter results while issuing conservative guidance for the year, mimicking theHasbro is maintaining some optimism though, pointing to key bright spots from releases like Transformers and its growing Wizards of the Coast gaming division, which houses Dungeons & Dragons, along withHasbro projected that full-year revenue will decline in 2023, but forecasted that the majority of the squeeze will be...
Cocks also said on the call that Hasbro would be looking to introduce a product line priced between $20 to $30, a cheaper option to help target the inflation-weary consumer. Hasbro is maintaining hope that new releases like expansion packs for Dungeons & Dragons and Magic: The Gathering games will pay off and compensate for product sales declines. "There's a lot of entertainment coming in Q2 that will have a nice halo effect in Q3 and Q4," said Cocks. The company announced on Thursday that Magic: The Gathering is on track to be its first billion-dollar brand.
"By and large, this company outlook is going to be determined by how strong Wizard is," Kocharyan told CNBC, noting that the gaming segment was a boon for dips in product sales.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Retail sales surge 3% at start of 2023 in clear sign economy is still growingSales at U.S. retailers jumped 3% in January — the biggest increase in almost two years — as Americans flocked to stores at the start of the new year.
Leer más »
Three Cadillac EVs to debut in 2023, start sales in 2024Cadillac's future is coming into focus quickly with a trio of EVs debuting this year.
Leer más »
The Best Electric Trucks for 2023Electric pickup trucks are a small but rapidly growing segment offering the functionality of a truck and the sustainability of an electric vehicle. Here's every 2023 model-year battery-electric truck ranked from worst to best.
Leer más »
2023 BMW M3 Touring Puts Undiluted M Goodness into a Rare FormThe M3 Touring is the first of its kind, but the tantalizing combo will remain off-limits to us Yanks.
Leer más »
Foo & Foo RTW Fall 2023Foo & Foo's Elizabeth Hilfiger melded elements of her preppy childhood vacations with cool, distressed basics.
Leer más »