Earlier today, Hasbro held their Financial Call for the 3rd Quarter of 2019.
Unfortunately, Hasbro had a rough quarter with proposed sales tariffs to hit on the upcoming Holiday Season. Understandably, their stocks slightly declined; after enjoying a very good year before.
Nevertheless, Hasbro is looking forward for G.I. Joe: Snake Eyes; which is scheduled to release in Q3 2020.
Hasbro CFO Deb Thomas stated the following:
“As we look to 2020 while we usually give guidance about the upcoming year at Toy Fair and will do so again. Really the strength of our Partner Brands that we’re seeing right now at retail with Frozen 2 and Star Wars just coming out and launching initially with mostly the fan base in Star Wars coming out on October 4th for Triple Force Friday, very exciting. We see that as we’ve previously spoken about really continuing into 2020. So, in a year where we have major movie release is coming solely in the year, we tend to see the benefit of that continuing into the next year. And I think we continue to believe that as we sit here today, as well as being excited about things like the Marvel properties coming next year and our own Snake Eyes, as well as some other properties that we have coming from an entertainment standpoint. So as I sit here today, I would think our royalty expense might be a bit higher than it’s been historically. But perhaps you’re seeing the impact of much of it coming late in the year, this year. When we look to our own brands for 2020, we’re very excited about those as well.”
You can check out an Inforgraphic of Hasbro’s results, after the jump.