Latest news with #GinaGoetter
Business Insider
14-05-2025
- Business
- Business Insider
145% vs. 30%: Hasbro exec breaks down how the 'pleasant surprise' of Monday's China deal changed the company's plans
On Sunday, the toy maker Hasbro was preparing big changes to contend with triple-digit tariffs on Chinese imports. By Monday, all of those calculations were different. Gina Goetter, Hasbro's Chief Financial Officer and Chief Operating Officer, said that President Donald Trump' s decision to temporarily lower tariffs on China from 145% to 30% drastically altered the company's plans. She called the announcement a "pleasant surprise" at JP Morgan's Technology, Media, and Communications Conference. "A 30% world is very different from a 145 on how we're treating decisions like pricing, how we're treating allowances, how we're working with our retailers on promotions," Goetter said at the conference on Wednesday. Agility, she said, has been key in making decisions in the current environment. Hasbro, which produces Nerf guns and Play-Doh, had been planning to change the pricing of some products when the 145% tariffs were in place, Goetter said. Now, many of the pricing moves have been paused, though Goetter said some will still go through where it makes sense. "What Monday's announcement allows us for is to go back to those products where we were taking pricing and be very thoughtful," she said. Beyond upping some prices, Hasbro had planned to stop making some products altogether because the new manufacturing math simply didn't work. Goetter said on Wednesday that the company had also been planning to take an unprecedented move and produce some items only for international markets. Plans to reconsider manufacturing are now themselves being reconsidered, Goetter said. Hasbro makes many of its board games in the US, she said, and though the company is "actively exploring" what else it can produce domestically, Monday's announcement changes that calculus as well. Ultimately, Goetter said the math is just quite different, at least for now. Hasbro had previously predicted that 145% tariffs could shave off $180 million from the company's yearly net profits, and Goetter said that the new 30% tax brings that closer number to between $50 and $70 million. Given that the current agreement is temporary and the trade environment remains volatile, Goetter acknowledged that no decision is final.
Yahoo
30-04-2025
- Entertainment
- Yahoo
Hasbro to Participate in the J.P. Morgan 53rd Annual Global Technology, Media and Communications Conference
Fireside Chat to be Webcast Live PAWTUCKET, R.I., April 30, 2025--(BUSINESS WIRE)--Hasbro, Inc. (NASDAQ: HAS) today announced that Gina Goetter, Hasbro's Chief Financial Officer and Chief Operating Officer, will participate in the J.P. Morgan 53rd Annual Global Technology, Media and Communications Conference on Wednesday, May 14, 2025 at 10:00 AM Eastern time. Presentation times are subject to change. Please contact the conference host firm for additional details. The webcast will be available on Hasbro's Investor Relations home page at For those unable to listen to the live webcast, an archive of the presentation will be available on the Company's website for approximately 30 days. About HasbroHasbro is a leading games, IP and toy company whose mission is to create joy and community through the magic of play. With over 100 years of expertise, Hasbro delivers groundbreaking play experiences and reaches over 500 million kids, families and fans around the world, through physical and digital games, video games, toys, licensed consumer products, location-based entertainment, film, TV and more. Through its franchise-first approach, Hasbro unlocks value from both new and legacy IP, including MAGIC: THE GATHERING, DUNGEONS & DRAGONS, MONOPOLY, HASBRO GAMES, NERF, TRANSFORMERS, PLAY-DOH and PEPPA PIG, as well as premier partner brands. Powered by its portfolio of thousands of iconic marks and a diversified network of partners and subsidiary studios, Hasbro brings fans together wherever they are, from tabletop to screen. For more than a decade, Hasbro has been consistently recognized for its corporate citizenship, including being named one of the 100 Best Corporate Citizens by 3BL Media, a 2025 JUST Capital Industry Leader, one of the 50 Most Community-Minded Companies in the U.S. by the Civic 50, and a Brand that Matters by Fast Company. For more information, visit or @Hasbro on LinkedIn. © 2025 Hasbro, Inc. All Rights Reserved. HAS-IR View source version on Contacts Investors: Fred Wightman | Hasbro, Inc. | hasbro_investor_relations@ Media: Roberta Thomson | Hasbro, Inc. | communications@ Sign in to access your portfolio
Business Wire
30-04-2025
- Business
- Business Wire
Hasbro to Participate in the J.P. Morgan 53rd Annual Global Technology, Media and Communications Conference
PAWTUCKET, R.I.--(BUSINESS WIRE)-- Hasbro, Inc. (NASDAQ: HAS) today announced that Gina Goetter, Hasbro's Chief Financial Officer and Chief Operating Officer, will participate in the J.P. Morgan 53rd Annual Global Technology, Media and Communications Conference on Wednesday, May 14, 2025 at 10:00 AM Eastern time. Presentation times are subject to change. Please contact the conference host firm for additional details. The webcast will be available on Hasbro's Investor Relations home page at For those unable to listen to the live webcast, an archive of the presentation will be available on the Company's website for approximately 30 days. About Hasbro Hasbro is a leading games, IP and toy company whose mission is to create joy and community through the magic of play. With over 100 years of expertise, Hasbro delivers groundbreaking play experiences and reaches over 500 million kids, families and fans around the world, through physical and digital games, video games, toys, licensed consumer products, location-based entertainment, film, TV and more. Through its franchise-first approach, Hasbro unlocks value from both new and legacy IP, including MAGIC: THE GATHERING, DUNGEONS & DRAGONS, MONOPOLY, HASBRO GAMES, NERF, TRANSFORMERS, PLAY-DOH and PEPPA PIG, as well as premier partner brands. Powered by its portfolio of thousands of iconic marks and a diversified network of partners and subsidiary studios, Hasbro brings fans together wherever they are, from tabletop to screen. For more than a decade, Hasbro has been consistently recognized for its corporate citizenship, including being named one of the 100 Best Corporate Citizens by 3BL Media, a 2025 JUST Capital Industry Leader, one of the 50 Most Community-Minded Companies in the U.S. by the Civic 50, and a Brand that Matters by Fast Company. For more information, visit or @Hasbro on LinkedIn. © 2025 Hasbro, Inc. All Rights Reserved. HAS-IR
Yahoo
25-04-2025
- Business
- Yahoo
Hasbro Stock Jumps 16% After Earnings Beat, But Tariff Threat Looms Large
Hasbro (HAS, Financials) saw its shares climb 15.7% to $60.98 as of 2:56 p.m. ET Thursday after posting better-than-expected earnings. But even with the market rally, the company flagged a serious risk: tariffs on Chinese imports could cost it up to $300 million next year. Warning! GuruFocus has detected 3 Warning Signs with HAS. The toy giant is preparing for a range of trade outcomes, depending on whether a proposed 145% tariff on Chinese goods goes through. CFO Gina Goetter said the company's forecast accounts for different scenarios, with possible losses between $100 million and $300 million before any cost-saving measures kick in. CEO Chris Cocks said higher tariffs would likely lead to price hikes and possible job cuts. While parts of the businesslike board games and licensingare more insulated thanks to U.S.-based production, most toys are still made in China. Hasbro is looking at shifting some of its supply chain. One idea: move Play-Doh manufacturing from China to Turkey. But Cocks admitted that relocating production isn't simple, especially for toys with electronics or custom components. He added that China's decades of expertise make it hard to replace as a manufacturing base. In the meantime, the company is pushing ahead with a $1 billion cost-cutting plan and says any price increases will be as targeted as possible. Hasbro said bigger shifts in its supply network won't show up until 2026 at the earliestand everything depends on how trade policy evolves. This article first appeared on GuruFocus. Sign in to access your portfolio
Business Journals
24-04-2025
- Business
- Business Journals
Hasbro reduces China exposure, boosts profits with Wizards segment
Story Highlights Hasbro plans to reduce Chinese manufacturing while maintaining presence there. Company's Wizards segment drove strong Q1 revenue and profit growth. Hasbro is pushing for zero tariffs on toys and games globally. Amid shifting trade directives from the White House, Hasbro Inc. (Nasdaq: HAS) plans to reduce its Chinese manufacturing footprint but not completely exit the country. "Today, roughly 50% of our U.S. toy and game volume originates from China, and we're accelerating a plan to bring that down meaningfully starting this year," CFO Gina Goetter said on a Thursday morning earnings call. "China will continue to be a major manufacturing hub for us globally, in large part due to specialized capabilities developed over decades." Toys involving electronics are best manufactured in China, CEO Chris Cocks added. On the other hand, Play-Doh, now mostly made in China, could be produced elsewhere, perhaps by boosting production in Turkey. All in all, the Pawtucket-based Hasbro (Nasdaq: HAS) is cutting costs, running scenario models, resisting "analysis paralysis," and making "no regret moves" in the face of policy uncertainty, Geotter told analysts on the Q1 call. Hasbro uses an "asset-light" manufacturing approach. The reliance on third parties gives it flexibility to pull up stakes in one country and move to another, said Cocks. Still, such moves involve costs. Countries new to Hasbro must develop new manufacturing capabilities. Supply chains and logistics must be re-routed. And amid U.S. tariffs, the company is leaning into export markets in Asia and Europe. Hasbro is better positioned than its toy-and-game peers that have greater exposure to China. That means potential "white space" on store shelves this year, providing an opportunity for Hasbro to fill the consumer gap, said Goetter. Hasbro is presuming 145% tariffs on China and 10% reciprocal tariffs on all other countries this year. It's also presuming a single-digit drop in toy spending, akin to consumer toy-buying behavior during the 2008 financial crisis. "It tends to be a category of small luxuries," said Cox. "It tends to be a category that is heavily gift-oriented." Conversations with retailers are underway, with an emphasis on maintaining price points, especially for "fantastic gifts that kids will be asking for, and moms and dads and uncles and aunts will want to give." Meanwhile, "hundreds of SKUs" will be moved from China-based factories to other countries. In tandem, Hasbro is accelerating an effort to cut $1 billion in run-rate costs. "So we're staying focused on what is known," Goetter said regarding strategy. "And right now, what is known is the 145; the ten.... It's good for us to have a more diversified footprint, so we'll just keep moving on that path." Hasbro: White House should zero-out toy tariffs Hasbro's consumer products segment is its least profitable, but accounts for 45% of net revenue. The toy-and-board-game segment lost money in Q1, but beat expectations with better margins and less red ink. Entertainment had a solid quarter with traction expected due to brand partnerships with film studios including Disney, said Cocks. Hasbro's big profit-and-growth center is Wizards of the Coast and Digital Gaming, home to Magic: The Gathering, Dungeons & Dragons, and digital play hits including Monopoly Go! and Baldur's Gate 3. Digital gaming revenues, largely insulated from tariff threats, are benefitting from a growing customer base, said Cocks. Overall, Hasbro landed a strong Q1 as its Wizards segment saw 46% year-to-year growth. Wizards made $230 million in three months with an operating margin of nearly 50%. Across all three segments — consumer products, Wizards, and entertainment — Hasbro increased its revenues by 17% and boosted its operating profit by 47%, thanks largely to the success of Wizards. Hasbro stock rallied following the earnings release with 16% growth by noon. Shares were trading at around $61 and the company showed a market cap of $8.5 billion. Cocks said Hasbro is among a group of companies lobbying the Trump administration to cut toy-and-game tariffs completely. "As such, we fully endorse The Toy Association's advocacy for zero tariffs on toys and games globally, either on U.S. exports or on imports," the CEO said. "We believe there should be free and fair trade on toys, an industry critical not only to thousands of American jobs, but also to the joy and developmental well-being of millions of children, families and fans across the U.S." Executives made no mention of Hasbro's plan to leave Pawtucket and establish a new headquarters location, perhaps in Boston. The company recently said that it will delay any decision on such a move until at least June. Sign up for Providence Business First's free daily newsletters.
