Earlier this morning, Hasbro held their 2018 1st Quarter Financial Results conference call to investors and press. HISSTANK staff attended live online to learn how Hasbro did last quarter and what lies ahead in the future.
Hasbro is working hard to recover from the impact created by Toys”R”Us Bankruptcy. It was reported that a loss of $61.4 million was associated with the unfortunate event. With this loss, Hasbro posted a total $112.5 million loss in Q1 2018 results.
“The Hasbro teams executed extremely well during a challenging first quarter,” said Brian Goldner, Hasbro’s chairman and chief executive officer. “Hasbro brands are resonating with consumers and consumer takeaway is positive. However, as we discussed earlier in the year, our first quarter was expected to be difficult. We are working to put the near-term disruption from Toys”R”Us behind us. Our global retailers view this as an opportunity in a key consumer category and are partnering with Hasbro to develop growth plans for our brands. New Hasbro initiatives shipping in this quarter and beyond won’t be caught up in the Toys”R”Us liquidation process. With the rapid shift to a converged retail environment, we accelerated plans we originally had spread throughout the year to transform our commercial organization on a more immediate basis.”
With that, we wrap-up our report of the financial call. You can check out an infographic of the summary, after the jump.
SilverOptimus says
News Post: HISSTANK Coverage Of Hasbro 2018 1st Quarter Financial Results
truejoefan says
Yikes that sounds like a huge loss. All the more reason for the entire toy industry to take this TRU closing a bit more seriously. If Hasbro took that big of a hit I wonder how big of a hit company's like Mattle and even smaller ones like Neca took.
Dragasses says
fung.
Stygian says
The loss isn't surprising and was anticipated when news of TRU closing was first announced. They'll be fine in the long run, but many toy companies who did business with TRU are going to feel the hit. And yes, companies like Mattel, Spinmaster, Playmates, NECA, etc, will be impacted.
blayze5150 says
Somebody is going to shoot this down, but just food for thought.... I wonder if putting new toys out for a globally recognized brand with a well established fan base that has in the past proven to be a very profitable commodity would help?
foxtrot27 says
Maybe now they'll get there butts in gear and drop all that hiatus nonsense and get back to producing Joes to boost their revenue right now. I can only hope they find retailers since they didn't have anything to present at toyfair.
Ako Roshi says
Something Hasbro should consider is opening their own stores, much like Disney.
blayze5150 says
Something Hasbro should consider is opening their own stores, much like Disney.
plastic army 72 says
Something Hasbro should consider is opening their own stores, much like Disney.
Dolemite says
I'm especially worried about NECA. This will hit them way hard.
Keep reading: HISSTANK Coverage Of Hasbro 2018 1st Quarter Financial Results - Page 2
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