Hasbro, Inc. - HAS STOCK NEWS

Basic Fun! announced a Master Toy license agreement with Hasbro (NASDAQ: HAS) to relaunch the Littlest Pet Shop brand. The agreement allows Basic Fun! to manufacture and distribute Littlest Pet Shop collectible figures and playsets starting in 2024. Originally launched in 1992, the brand has sold millions of toys worldwide, with a strong legacy. This partnership aims to reintroduce the brand to a new generation, leveraging Basic Fun!'s expertise in marketing nostalgic toys.

Hasbro, Inc. (NASDAQ: HAS) announced the retirement of Executive Vice President and CFO Deborah Thomas after 24 years with the company. The firm is starting to identify her successor from both internal and external candidates while planning for Thomas to remain during the transition. CEO Chris Cocks praised Thomas for her leadership in transforming Hasbro into a global branded entertainment leader. Thomas expressed confidence in Hasbro's strategy for future growth. The company is recognized for its corporate citizenship and iconic brands.

Wizards of the Coast, a division of Hasbro (NASDAQ: HAS), has announced the release of new Magic: The Gathering Secret Lair cards designed by Grammy-nominated artist Post Malone. The limited-edition products, available for preorder until November 14, feature unique art and themes, showcasing Post's creative input. The sets include 'Backstage Pass' and 'The Lands,' with cards reflecting Post's personal style. This collaboration celebrates the 30th anniversary of Magic, connecting fans of both the game and the artist.

Hasbro, Inc. (NASDAQ: HAS) reported third-quarter 2022 revenues of $1.68 billion, a 15% decline year-over-year. Operating profit was $194.3 million, down 47%, primarily due to shifts in product shipments and increased consumer price sensitivity. Full-year guidance remains flat to slightly down revenue in constant currency, with a projected 16% adjusted operating margin. The Wizards and Digital Gaming segment are expected to contribute positively, especially with the upcoming 30th anniversary of MAGIC: THE GATHERING. An Operational Excellence program aims for $250-300 million in annual cost savings.

Paramount+, Nickelodeon, and Hasbro's Entertainment One (eOne) announced the debut of the animated series TRANSFORMERS: EARTHSPARK, launching its first 10 episodes on November 11 in the U.S. and Canada. The series introduces a new generation of Transformers born on Earth and highlights the voice talents, including Nolan North and Marc Evan Jackson. The trailer was unveiled at New York Comic Con 2022. The show aims to redefine family through new robot characters and human connections, with its global rollout beginning in November.

Hasbro (NASDAQ: HAS) appointed Dan Rawson as Senior Vice President of Dungeons & Dragons at Wizards of the Coast. Rawson, previously COO of Microsoft Dynamics 365, will focus on enhancing brand growth across digital and physical platforms. This move coincides with the recent acquisition of D&D Beyond, which already has over 10 million registered users. Cynthia Williams, president of Wizards of the Coast, highlighted the timing as ideal for expanding D&D's digital capabilities, enhancing community engagement, and maintaining a player-first approach.

Hasbro, Inc. (NASDAQ: HAS) introduced Blueprint 2.0 at its first investor day under CEO Chris Cocks. The strategy aims to enhance operational efficiencies and drive profitability, expecting $250-$300 million in savings over three years, with $150 million by year-end 2023. Key focuses include investments in digital platforms, licensing partnerships, and entertainment content expansion. The company targets a revenue CAGR of mid-single digits to achieve $8.5B by 2027, alongside significant operating profit growth.

Hasbro introduces a new immersive experience on Roblox called Visit Maretime Bay, celebrating the My Little Pony: Make Your Mark series now on Netflix. Players can transform their avatars into customizable pony avatars, enhancing self-expression in a secure environment. Hasbro eliminates chat features and monetization through Robux, ensuring a child-friendly atmosphere. The campaign includes partnerships with Tripadvisor for promoting Maretime Bay as a family vacation spot and supports girls' confidence through initiatives with the Girl Scouts of the USA.