Monopoly Maker Hasbro Inventory Falls 39% In Q3, CFO Vows To Finish 2024 With Improved Profitability

Hasbro Inc (NASDAQ:HAS) reported a third-quarter sales decline of 15% year-on-year to $1.281 billion, marginally missing the analyst consensus estimate of $1.295 billion.

The revenue decline was driven primarily by the eOne film divestiture; excluding the divestiture, revenue declined by 9%.

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Segment Revenue: Consumer Products declined 10% driven by exited brands, reduced closeouts and softer than anticipated volume; declines partially offset by new product innovation and strength in consumer products licensing.

Wizards of the Coast and Digital Gaming revenue decreased 5% as growth in MAGIC: THE GATHERING was offset by expected declines in Licensed and Digital Gaming due to ...