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    HAS   US4180561072

HASBRO, INC.

(HAS)
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Hasbro : ramps up toy supply for holiday season to beat shipping delays

07/26/2021 | 06:42am EDT

July 26 (Reuters) - Hasbro Inc is trying to get around the supply chain bottlenecks set off by the pandemic to deliver toys and boardgames for the holiday season by expanding its shipping operations and advancing its sourcing of products.

The move by the U.S. toymaker aims to cash in on the demand for Nerf blasters and action figures based on Marvel superheroes, while its television production rebounds, thanks to vaccine rollouts and easing of restrictions.

Hasbro shares rose 10% to their highest level in 17 months after the company beat quarterly results expectations on Monday.

"We may experience some shifts in delivery dates and timing of revenue, but we're leveraging our global footprint and scale to meet demand," Chief Financial Officer Deborah Thomas said.

Globally, companies across industries have been hit by shipping delays and port congestion in a pandemic-hit year, forcing many, including Hasbro, to spend more on finding ways to get products to stores faster.

The higher transportation costs stemming from an increase in the number of ocean freight carriers and the use of more ports to speed-up deliveries have forced Hasbro to announce price increases for toys in the third and fourth quarter. "We're working to ensure product availability during the holiday season," Thomas said.

The company is also leaning more on its TV and movie production business to generate revenue growth, after a year of pandemic-led shutdowns, with content deals for Netflix, Apple TV+ and Showtime later this year.

Entertainment segment revenue, which includes production studio Entertainment One and other movie businesses, jumped 47% in the second quarter. Revenue from the consumer products segment, which includes toy brands such as Nerf and Play-Doh, rose 33%.

Overall net revenue rose 54% to $1.32 billion in the three months ended June 27, beating analysts' average estimate of $1.16 billion, according to Refinitiv IBES data.

Its adjusted profit of $1.05 per share beat expectations of 47 cents per share.

(Reporting by Uday Sampath in Bengaluru; Editing by Arun Koyyur)


ę Reuters 2021
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Analyst Recommendations on HASBRO, INC.
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Financials (USD)
Sales 2021 6 224 M - -
Net income 2021 475 M - -
Net Debt 2021 3 295 M - -
P/E ratio 2021 27,0x
Yield 2021 2,94%
Capitalization 12 785 M 12 785 M -
EV / Sales 2021 2,58x
EV / Sales 2022 2,38x
Nbr of Employees 6 822
Free-Float 57,5%
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Technical analysis trends HASBRO, INC.
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Mean consensus BUY
Number of Analysts 16
Last Close Price 92,86 $
Average target price 113,13 $
Spread / Average Target 21,8%
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Managers and Directors
Brian D. Goldner Chairman & Chief Executive Officer
Deborah M. Thomas Chief Financial Officer & Executive Vice President
Edward M. Philip Lead Independent Director
Ken A. Bronfin Independent Director
Tracy A. Leinbach Independent Director
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