Current Events > Hasbro lays off 15% employees after weak Q4 which was execs own fault wow

(+) Yeah! (+)

Hasbro aid Thursday it would eliminate around 1,000 employee positions and warned of weak holiday-quarter results.
Shares of the toy maker fell more than 6% in extended trading.

Despite strong growth in Wizards of the Coast and Digital Gaming, Hasbro Pulse, and our licensing business, our Consumer Products business underperformed in the fourth quarter against the backdrop of a challenging holiday consumer environment, said Hasbro CEO Chris Cocks.
The layoff of around 15% of its global workforce comes as the company seeks to save between $250 million and $300 million annually by the end of 2025.
Hasbro said it expects fourth-quarter revenue, which includes the holiday season, to reach $1.68 billion, down 17% compared to the year-earlier period. Estimates had called for Hasbro to reach $1.92 billion during the quarter, according to data from Refinitiv.

Despite strong growth in Wizards of the Coast and Digital Gaming, Hasbro Pulse, and our licensing business, our Consumer Products business underperformed in the fourth quarter against the backdrop of a challenging holiday consumer environment, said Hasbro CEO Chris c***s.

Get fucked Hasbro. I ain't buying.

For reference Bank of America even called them out on their bullshit in November and after this they shoved their fingers in their ears and doubled down.

https://www.cnbc.com/2022/11/14/bank-of-america-says-hasbro-could-fall-34percent-as-company-kills-magic-the-gathering-card-game.html

https://gamefaqs.gamespot.com/a/user_image/3/0/2/AABhrNAAEIO-.jpg

When companies succeed, execs get the accolades. When companies lose, the workers take the losses.

Hasbro? More like Hasbeen!

Can we talk about the fact you have the profanity filter on

Again, that wasn't product fatigue. BoA was saying that they were printing too many copies of each card so those cards were not artificially scarce and were unsuitable as investment items. Everyone who actually plays the game and doesn't want to just sell the cards for a profit is happy with that. Stop trying to spin it.

Again, that wasn't product fatigue. BoA was saying that they were printing too many copies of each card so those cards were not artificially scarce and were unsuitable as investment items. Everyone who actually plays the game and doesn't want to just sell the cards for a profit is happy with that. Stop trying to spin it.

I know everyone's mad about the D&D thing but as a toy company looking at Q4 isn't the only thing they care about physical toys for children that moved during Christmas? I imagine the majority of the important metrics in Q4 is stuff like Transformers and Power Rangers that wound up under a Christmas tree. Some 40 year old buying a pack of magic cards or a D&D book wouldn't let the time of year dictate that choice nearly as much.

Wizards of the Coast, which includes Dungeons and Dragons, Magic: The Gathering and digital gaming, will remain a bright spot, the toymaker said. The company expects the division to have generated $339 million in revenue during the fourth quarter, up 22% compared to last year, and reach $1.33 billion in revenue for the full year, up 3% from 2021.

I know everyone's mad about the D&D thing but as a toy company looking at Q4 isn't the only thing they care about physical toys for children that moved during Christmas? I imagine the majority of the important metrics in Q4 is stuff like Transformers and Power Rangers that wound up under a Christmas tree. Some 40 year old buying a pack of magic cards or a D&D book wouldn't let the time of year dictate that choice nearly as much.

The craziest number is that the operating profit for the WotC and Digital Gaming segment for 2020 was $420.4 million. Thats an eye-popping number on its own, representing a 46% operating profit margin, but whats even more amazing is that the number for the WotC and Digital Gaming segment is over $112 million more than the operating profit for Hasbros entire consumer products segment, which includes its massive toy business and all the rest of its games. The consumer products segment generated over four times the WotC segments sales in 2020 ($3.65 billion), for less profit.

Wizards of the Coast on its own is also more profitable than Hasbros consumer products segment; even if you subtract the non-WotC digital gaming revenue ($90.7 million), the segment makes more money than the toys and other products.

From the outside, Hasbro looks like a toy company, but with these numbers, its revealed to be a geek game company with toy and entertainment divisions. No wonder Hasbro CEO Brian Goldner explained, "We have simplified our structure to maximize our growth and provide a clearer view to the drivers of Hasbro revenues, profit, margin, and cash generation."

wotc makes like 70% of their revenue or some ridiculous number like that

their toy aspect is basically not important

It's not the employees, they hate this s*** too, probably more than you do

well of course they the ones who lost their job or their buddy

Marvel Legends:

-$20 figures 2 years ago, $26-36 now
-removed plastic from packaging to "go green" (i.e. reduce cost)
-reusing molds from 11 years ago, skipping paint applications
-quality control no longer exists

Fuck Hasbro.

I thought the new packages was due to regulations in Asia? It's a shame because their Power Ranger toys QC is SO BAD. I can't buy any closed back figure from them unless it's a character I really, really love.

I know everyone's mad about the D&D thing but as a toy company looking at Q4 isn't the only thing they care about physical toys for children that moved during Christmas? I imagine the majority of the important metrics in Q4 is stuff like Transformers and Power Rangers that wound up under a Christmas tree. Some 40 year old buying a pack of magic cards or a D&D book wouldn't let the time of year dictate that choice nearly as much.

https://www.wargamer.com/pathfinder/sales-rise-dnd-ogl

Meanwhile at pathfinder hq.

Can we talk about the fact you have the profanity filter on