Hasbro, Inc. - HAS STOCK NEWS

Hasbro announces a new app-enabled version of Twister called Twister Air, which is available for pre-order on Amazon and will be released in major retailers on August 1. Twister Air brings the classic gameplay to smartphones and tablets using augmented reality technology. Players use wrist and ankle bands to match colored spots on the screen to earn points. The game offers three different modes of play and features a library of over 16 songs. Hasbro also released a new original song called 'Twist in the Air' to accompany the game.

Hasbro named Consumer Discretionary Sector Leader in 2023 and recognized as a top community-minded company by Points of Light. Hasbro's philanthropic and social impact support exceeded $21 million, benefiting four million children and adults worldwide.

Hasbro, Inc. (NASDAQ: HAS) reported a challenging first quarter of 2023 with revenues of $1.00 billion, down 14% year-over-year. Despite operating profit of $17.9 million, there was a net loss of $22.1 million or $0.16 per share. However, the performance of MAGIC: THE GATHERING was strong with a 16% revenue increase due to successful releases and high player demand. The company has achieved $35 million in cost savings year-to-date and reaffirmed its full-year guidance, targeting $150 million in run-rate savings. CEO Chris Cocks emphasized the ongoing implementation of the Blueprint 2.0 strategy and the positive trajectory for Dungeons & Dragons post the successful movie release. Despite challenges, Hasbro remains focused on reducing costs and maximizing shareholder value.

Hasbro, Inc. (NASDAQ: HAS) has announced two key appointments to its Executive Leadership Team. Tim Kilpin will take on the role of President, Toy, Licensing & Entertainment effective April 24, 2023, bringing extensive experience from companies such as PlayMonster and Activision Blizzard. Gina Goetter will assume the role of Chief Financial Officer on May 18, 2023, after serving as CFO at Harley-Davidson. Her experience spans over 25 years in finance and accounting, contributing to operational excellence at Hasbro as it executes its Blueprint 2.0 strategy. Both appointments aim to enhance leadership as the company focuses on optimizing its brand portfolio and driving shareholder value.

Hasbro, Inc. (NASDAQ: HAS) will host its first quarter 2023 earnings conference call on April 27, 2023, at 8:30 a.m. Eastern Time. The financial results will be released prior to the call and available on Hasbro's Investor Relations website. Key financial data will comply with Regulation G and will accompany the webcast, which also includes presentation slides for investors and media. A replay of the call will be accessible approximately two hours post-event on the same webpage.

Hasbro is recognized for its diverse portfolio of brands including MAGIC: THE GATHERING, DUNGEONS & DRAGONS, and TRANSFORMERS, aiming to connect generations through storytelling and play.