Hasbro isn’t having much fun

Some gloomy predictions have sent Hasbro shares tumbling down the charts.

• Hasbro has investors worried as it expects its holiday quarter results to be lackluster. The company predicts its revenue for the quarter to have fallen by 17% YoY, and its total revenue year to be down 9% from the year prior. The earnings report is set to be published on February 16.
• Shares in the company dropped by more than 8% on Friday – making it the worst performer of the S&P 500 that day. It’s also had to let go of around 1k employees to help with its cost cutting efforts. Hasbro aims to have saved at least $250m by the end of 2025 – which is a key motivator for the layoff of 15% of its global workforce.
• Its last hope might be its “Wizards of the Coast” unit, which is performing well amid the downturn. Hasbro predicts that the unit (which produces games such as Dungeons & Dragons, and Magic: The Gathering) will have generated $339m during Q4 – marking a 22% increase YoY. Whether its success will be enough however, remains to be seen.