Hasbro had big problems: layoffs, bad results

[Horacio]

Just seen it at CNBC. It can explain why some bad decisions are taken: fear, pressure...

Hasbro warns of weak holiday quarter results, cuts 15% of its workforce

Shares of toymaker Hasbro fell after the bell after the company said it would cut around 1,000 jobs and warned of weak fourth-quarter results.

www.cnbc.com

 

[mamba]

Chris Cocks: “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”

So not sure WotC has an excuse here, unless you think of pressure by Hasbro

 

[Horacio]

Chris Cocks: “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”

So not sure WotC has an excuse here, unless you think of pressure by Hasbro

That was what I was thinking, a big and irrational pressure from Hasbro, that needs WotC generate ever more cash as they lose it on almost all other activities.

 

[Hussar]

Not an excuse. But it does seem rather plausible that a total 180 on the ogl after decades of working with it possibly is the result of outside interference.

 

[TheSword]

2022 was always going to be a tough year following on from the gaming peaks of 2020 and 2021. Budgeting has been shot in so many businesses due to pandemic disruption. All the normal budget markers have moved up and down.

2020 and 2021 were bumper years due to the lockdowns. I’d be more interested to compare to pre-pandemic 2019 figures. If anyone has them?

Don’t forget also that restructure is often the first thing that new leadership look at. Get unpopular but necessary decisions done early when folks are already expecting change and then switch to more positive changes after that. Don’t forget that massive payroll and energy increases have caused lots of companies to rationalize costs.

… again, I’ve been reading my Machiavelli.

 

[Lidgar]

“While the full-year 2022, and particularly the fourth quarter, represented a challenging moment for Hasbro, we are confident in our Blueprint 2.0 strategy, unveiled in October, which includes a focus on fewer, bigger brands; gaming; digital; and our rapidly growing direct to consumer and licensing businesses,” Cocks said.

I'd hazard a guess that the first quarter hasn't had a rockin' start either...

 

[LordRuyn]

2020 and 2021 were always going to be bumper years given the lockdowns. I’d be more interested to compare to pre-pandemic 2019 figures. If anyone has them?

Considering they are a publicly traded company, I'd imagine that's publicly available information.

 

[Haplo781]

Alta Fox is typing...

 

[Whizbang Dustyboots]

2022 was always going to be a tough year following on from the gaming peaks of 2020 and 2021. Budgeting has been shot in so many businesses due to pandemic disruption. All the normal budget markers have moved up and down.

2020 and 2021 were always going to be bumper years given the lockdowns. I’d be more interested to compare to pre-pandemic 2019 figures. If anyone has them?

Don’t forget also that restructure is often the first thing that new leadership look at. Get unpopular but necessary decisions done early when folks are already expecting change and then switch to more positive changes after that. Don’t forget that massive payroll and energy increases have caused lots of companies to rationalize costs.

… again, I’ve been reading my Machiavelli.

That's why all the streamers other than HBO are slashing and burning right now. (HBO is slashing and burning because of a leveraged buyout.)

 

[Minigiant]

I've said this for at least 3 weeks now.

WOTC is carrying Hasbro on its back. NonWOTC Hasbro barely makes net profits per unit. It's all volume sales.

And Hasbro realizes it and wants to sit on its head.