Hasbro's Q4 Losses Signal Dismal Outlook for Toy Makers
TL;DR Summary
Hasbro reported a $1.06 billion loss for Q4, with significant declines in company-wide sales, particularly in the Entertainment and Consumer Products segments. Despite this, the Wizards of the Coast and Digital Gaming segment showed a profit, driven by digital games. Sales of Magic: The Gathering were down, but the company expects growth in 2025 with the release of new premier Universes Beyond sets. Hasbro anticipates improved profitability in 2024 due to expense cuts and expects board game sales to grow, although overall consumer products sales are expected to decline.
Topics:business#business-entertainment#hasbro#q4-earnings#sales-decline#tabletop-gaming#wizards-of-the-coast
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