The U.S. epidemic is severe, but Hasbro’s revenue in the U.S. and Canada increased by 20% in the first quarter...

by:Ennas      2022-01-14
Toy giant Hasbro released the data for the first quarter. The company reported that net income for the quarter fell to $1.1 billion from $1.2 billion in the same period last year. These figures reflect the impact of the company's completion of the acquisition of Entertainment One (eOne) and the first financial impact of the impact of the COVID-19 epidemic. Despite the decline in global revenue, Hasbro's revenue in the United States and Canada has increased by 20% because of the growing demand for games and movie entertainment as family members stay at home together. The first quarter highlights what makes Hasbro truly unique: a global team that responds creatively and quickly to challenges; a diverse brand portfolio and retailer base, including first-class ecomm and omni-channel execution; strong financials Foundation and balance sheet; Hasbro Chairman and CEO Brian Goldner (Brian Goldner) said: Our goal is to create a better world for children and their families. In this quarter, a series of powerful face-to-face games developed through Hasbro and Play-doh, as well as content and imaginative games in collaboration with our brand and entertainment industry, between family and friends Established contact. Our team works tirelessly to ensure that products reach consumers, while managing the health and safety of our global employees and partners. Retail retail outlets performed strongly in the first quarter and will continue to rise in April. Unsurprisingly, Hasbro games are the main driver of sales, with sales increasing by 30%, reflecting the overall prosperity of gaming products. 'Magic: The Gathering' and 'Monopoly' are leading in this regard, and Pallotte's sales have increased by single digits. Hasbro's recent Bring Home The Fun campaign is stimulating consumer interest. Brian Goldner mentioned that Magic: The Gathering is the highlight of the sales and storytelling of card, table and digital games, because the company encourages fans to participate in various activities at home. Classic games including 'The Game of LifeHasbro’s co-branded brands, including 'Star WarsUniversal Pictures recently launched the DreamWorks Troll World Tour in China. At the same time, people are also very interested in Disney's content, including 'The Mandalorian' (The Child aka Baby Yoda). Power Rangers is considered a bright spot for emerging brands, and its growth has been offset by the decline of other similar products. Emerging brands suffered a 19% hit this quarter. Brian Goldner said that NERF Ultra and Beyblade also performed well. The new TV/movie/entertainment category dropped by 29% due to the decline in revenue from eOne productions. The company expects to resume production in the third quarter. eOne's family brands, including 'Peppa Pig' and 'PJ Masks' and 'Ricky ZoomThe new IP is under development and is expected to be approved in the next few months. The writing and other creative teams are still working remotely. Looking to the future, the eOne development platform has just begun to take shape. Hasbro has approximately 100 TV projects under active development, including 15 from Hasbro’s investment portfolio. A total of 21 movie projects in Hasbro's portfolio are under development, and 40 other drama productions are also under development. Brian Goldner said: While we plan to reopen the economy globally, we have carried out extensive scenario planning throughout the business and the region. At the same time, we have made significant progress in integrating eOne. Although most of the team’s production work has been delayed due to COVID-19 recently, we are actively working together to find value from our brand and eOne enterprise. Hasbro is creating gaming and entertainment experiences, which are important experiences that consumers and audiences want to see this year and the next few years. The company said it expects the second quarter to be more challenging and withdrew its 2020 performance guidance issued during the New York Toy Fair. Goldner said that due to the closure of retail stores, the biggest challenge is reaching consumers. As many stores around the world are still closed, especially specialty stores and independent toy stores, Hasbro has achieved 60% growth in e-commerce and omni-channel retail. Its Hasbro Pulse direct-to-consumer platform continues to be used to sell products while attracting fans and collectors. Deborah Thomas, Hasbro's chief financial officer, reiterated the challenges in the second quarter, but emphasized that the company is in a good position in terms of liquidity. Yesterday, Hasbro and Cartamundi joined forces to produce 50,000 face masks for frontline medical staff in the United States every week. Hasbro’s masks will be produced at the Cartamundi plant in East Rhode Island, Massachusetts, and will be donated to local hospitals in Massachusetts and Rhode Island, where Hasbro’s global headquarters is located.
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