Some relevant stats:
Net losses widened to $1.06 billion, or $7.64 a share, from $128.9 million, or 93 cents a share, in the same period a year ago.
Revenue dropped 23.2% to $1.29 billion, below the FactSet consensus of $1.34 billion.
Among Hasbro’s business segments, Wizards of the Coast and Digital Gaming revenue increased 10%, as growth in digital gaming licenses offset slight declines in Wizards tabletop and digital games sales.
For 2024, the company expects Wizards of the Coast revenue to fall 3% to 5% and Consumer Products revenue to be down 7% to 14%.
What I’m watching closest is the change in revenue for booster boxes after the introduction of the Play Booster box and the price hike. I think it will contribute towards a bigger hit to their revenue than they are forecasting. It’s obviously anecdotal but I’m a box buying consumer and this priced me out.