top partner

for CFD

Shares of Hasbro, Inc. (NASDAQ: HAS) were down over 1% on Thursday. The stock has gained 11% year-to-date. The company has faced challenges due to a drop in discretionary spending and it saw its revenue and profits decline in its most recent quarter. At the same time, it has been taking measures to transform its business and it remains optimistic about driving growth in the back half of the year.

Focus on priority brands

A significant part of Hasbro’s Blueprint 2.0 strategy is to focus on driving growth in few of its bigger and more profitable brands. The company managed to grow share in its key brands during the first half of 2023. During this period, the toymaker saw point of sale growth for PEPPA PIG, TRANSFORMERS, PLAY-DOH, D&D, MAGIC: THE GATHERING and Hasbro Games.

Hasbro gained share across most of its focus categories as TRANSFORMERS, PLAY-DOH, and MONOPOLY drove growth in action figures, arts & crafts, and games in the first half. In the second quarter of 2023, despite a 5% decline in overall Franchise Brands revenue, the company grew revenue for TRANSFORMERS and DUNGEONS & DRAGONS. It also saw growth in PEPPA PIG driven by digital gaming and entertainment.

Sale of eOne

As part of its efforts to focus on its priority brands, Hasbro agreed to sell its eOne film and TV business to Lionsgate for approx. $500 million. The sale includes around 6,500 titles, active productions for non-Hasbro owned IP, eOne’s Canadian film and TV operations, and the eOne unscripted business. The deal is expected to close by the end of 2023.

Hasbro Entertainment plans to focus on 30 plus Hasbro-based projects that include the TRANSFORMERS and GI JOE franchises, PLAY-DOH, D&D, MAGIC: THE GATHERING and its board game portfolio. The sale will help it move to an asset-lite model for future live-action entertainment, relying on licensing and partnerships with select co-productions.  

Cost savings

Under its Operational Excellence program, Hasbro has achieved $84 million in savings in the first half of 2023. This includes $32 million of cost savings within its supply chain and $52 million within operating expenses. These savings have allowed the company to reinvest into its business to support marketing, inventory reduction and other strategic initiatives. Hasbro remains on track to deliver its savings target of $150 million for the year.

The post Hasbro (HAS): A look at the toymaker’s efforts in reshaping its business first appeared on AlphaStreet.

Read the full story: Read More“>

Blog powered by G6

Disclaimer! A guest author has made this post. G6 has not checked the post. its content and attachments and under no circumstances will G6 be held responsible or liable in any way for any claims, damages, losses, expenses, costs or liabilities whatsoever (including, without limitation, any direct or indirect damages for loss of profits, business interruption or loss of information) resulting or arising directly or indirectly from your use of or inability to use this website or any websites linked to it, or from your reliance on the information and material on this website, even if the G6 has been advised of the possibility of such damages in advance.

For any inquiries, please contact [email protected]