Hasbro Quarterly Results Hit By Star Wars Toy Slump
Hasbro has recently announced its t fourth-quarter earnings report, which has shown a huge profit despite a surprise drop in quarterly sales due to toys based on Star Wars: The Last Jedi not preforming as well as expected.
Because of this, CEO Brian Goldner stated in an earning conference call that, in the future, product launches for Star Wars movies will be released much closer to the movie’s release. Previously Hasbro released lots of merchandise months before the movies came out, especially for Force Friday in September. This long gap between the release of “Star Wars: The Last Jedi” and Force Friday, “hurt sales” according to Chief Executive Brian Goldner.
This is why merchandise for Solo: A Star Wars Story isn’t already out, plus this should also help keep excitement higher for these toys. Having new merchandise out at the same time as the movie also helps promote both sides at the same time.
Lots of Star Wars collectors have voiced their displeasure at the quality of products tied into the Last Jedi and the reaction to the movie, might have also impacted sales. Though Last Jedi products still sold more than “Rogue One” toys.
However, with lots of toys tied in with Marvel’s movies like Infinity War, Ant-Man and the Wasp, Black Panther plus other Marvel movies like Venom, X-Men: Dark Phoenix and Deadpool, also loosely tie-in. Hasbro is looking to profit greatly from all these movie ties.
This drop in sales is also being effected by issues in toy retailers such as Toys R Us, so the company is working with other retailers like Target more to reduce the risk.
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