Hasbro shares rose by more than 6% in pre-market trading in advance of the earnings release. The stock was up over 10% after the market opened, trading at 52-week high levels, with shares at $103 mid-morning.
Hasbro is reaping the rewards of a restructuring designed to better leverage its entertainment division to drive profits, and sales of toys related to entertainment properties.reportsOne of the biggest winners for Hasbro during the quarter was its Wizards of the Coast and Digital Gaming division, which saw revenues more than double, to $406 million, driven by the Magic: The Gathering, and Dungeons and Dragons properties.
Goldner and Thomas told investors that Hasbro has established price increases that are set to take effect during the third quarter and will address the expected production and shipping cost increases. They would not specify what the average price increase for their toys and games would be, but in response to an analyst’s question said that it would be less than 10%.
Goldner and Thomas said Hasbro’s size and industry clout will help it navigate the shipping and supply chain challenges of the second half of the year. Hasbro, they said, has lined up additional freight operators, is sourcing from more countries, and is working with retailers to get inventory stocked well in advance of the holiday rush.
this is terrible news
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hasbro Had A Great Spring, But Headwinds Could Hurt Holiday SalesHasbro wowed Wall Street with its second quarter results, but it faces holiday challenges that could make the toy game a lot tougher.
Source: Forbes - 🏆 394. / 53 Read more »
Hasbro Sees eOne Film, TV Business Rebound in Second QuarterToy maker Hasbro saw its second quarter revenues jump after a rebound in film and TV series deliveries from its Entertainment One division. Overall, entertainment division revenue rose 47 percent t…
Source: THR - 🏆 411. / 53 Read more »
‘Peppa Pig’ Parent Hasbro Sees Film & TV Rebound, Beats Wall Street Q2 ForecastsA strong return of its film and TV business, especially compared with a bleak 2020, helped Hasbro’s second quarter results easily beat Wall Street forecasts. Revenue surged 54% to $1.32 billi… Peppa Pig is legit lol.
Source: DEADLINE - 🏆 109. / 63 Read more »
Stocks making the biggest moves premarket: Hasbro, Otis Worldwide, Lockheed Martin and othersThese are the stocks posting the largest moves before the bell. MorganStanley is predicting StockMarket crash!
Source: CNBC - 🏆 12. / 72 Read more »
Toymaker Hasbro revenue beats as TV, film business reboundsHasbro beat quarterly revenue estimates on Monday as its film and television production business returned to growth after being largely shut down last year. I managed to get my students start up capital of $900 and traded it and I got $2400 within 70 hours of trading in a week. Trade today and stand a chance of winning big I always make profit from the market irrespective of that. Send an inbox to +1(386) 259-0446 Let's activate Maybe now they can afford to bring back the 'Classic Edition' of Monopoly. It is sold as such by Amazon, Walmart, etc., but what you get is the '1980s Edition.' Just told in a Hasbro live chat that I shld try eBay. Fingers crossed Hasbro amazon walmart nomorebaitandswitch
Source: CNBC - 🏆 12. / 72 Read more »
Hasbro ramps up toy supply for holiday season to beat shipping delaysHasbro Inc (HAS.O) is trying to get around the supply chain bottlenecks set off by the pandemic to deliver toys and boardgames for the holiday season by expanding its shipping operations and advancing its sourcing of products.
Source: Reuters - 🏆 2. / 97 Read more »