Games revenue up, net revenue down for Hasbro in Q2 2018 results

Hasbro’s net revenues for Q2 2018 decreased seven per cent to $904.5m versus $972.5m in 2017.

In the US and Canada, Q2 2018 net revenues decreased seven per cent to $459.3m while international net revenues were $380.4m, down 11 per cent.

On a regional basis, Europe net revenues decreased 16 per cent, Latin America decreased three per cent, Asia Pacific decreased five per cent, while emerging markets decreased nine per cent.

The firm has attributed the lower revenues largely to the liquidation of Toys R Us in the US and other global markets.

“2018 is unfolding as expected as our teams manage the liquidation of Toys R Us in many markets and address the rapidly evolving European retail landscape,” said Brian Goldner, Hasbro’s chairman and chief executive officer.

“We are investing in our business – in innovation, entertainment and a modern global commercial organisation, to drive profitable growth in 2019 and beyond. Consumer takeaway is up for our brands, and we further strengthened our brand portfolio through the acquisition of Power Rangers.

“We are focused on moving beyond the near-term disruption of losing a major customer, with a clear path forward including new retailer activations to meet the consumer demand made available by the Toys R Us departure.”

Hasbro’s total gaming category, including all gaming revenue, totalled $312.8m for Q2, up 14 per cent on Q2 2017.

Q2 2018 Franchise Brand revenues decreased eight per cent to $506.5m, where growth in Magic: The Gathering, Monopoly and Baby Alive were offset by declines in the other Franchise Brands such as Transformers.

Partner Brand revenues declined 10 per cent to $208m, with revenue growth in Beyblade and Marvel more than offset by declines in other Partner Brands.

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