Latest news with #toymaker
Wall Street Journal
5 days ago
- Business
- Wall Street Journal
The Hottest Business Strategy This Summer Is Buying Crypto
It's the hottest trade of the summer. Companies are raising tens of billions of dollars, not to invest in their businesses or hire employees, but to purchase bitcoin and more obscure cryptocurrencies. A Japanese hotel operator, a French semiconductor manufacturer, a Florida toy maker, a nail-salon chain, an electric-bike maker—they're all plowing cash into tokens, helping to send all kinds of digital currencies to record levels. News that a new company plans to buy crypto is enough to send its shares flying—spurring others to consider joining the frenzy.
Yahoo
24-07-2025
- Business
- Yahoo
Toymaker Hasbro Beats Second-Quarter Revenue Views, Reports Order Delays
Hasbro's (HAS) second-quarter revenue beat Wall Street's estimates, though the toymaker said Wednesd Sign in to access your portfolio
CTV News
23-07-2025
- Business
- CTV News
Hasbro lifts annual revenue forecast on strong demand for 'Magic: The Gathering' games
The Hasbro logo is seen, April 26, 2018, in New York. (AP Photo/Richard Drew, File) Hasbro raised its annual revenue forecast on Wednesday, as the toymaker leans on strength of 'Magic: The Gathering' games and cost-cutting efforts to weather the impact from mounting economic and tariff uncertainty. While Hasbro has benefited from a steady growth in segments such as digital gaming, the company and its peer Mattel remain vulnerable to the volatile tariff dynamic as a chunk of their U.S. merchandise is sourced from China. To tackle a potential rise in tariff-driven costs, Hasbro has announced job cuts and sought to diversify its manufacturing and logistics footprint as it imports nearly half of its goods from China. It plans to bring it down to about 40 per cent in 2027. Sales at the company's consumer products business, which includes shipping to retailers, was down 16 per cent. The company said that U.S. customers had shifted their orders from the second quarter to the back half of the year due to tariff uncertainty. Shares of the Monopoly maker, which have risen nearly 40 per cent this year, were down about two per cent. Still, Hasbro said its expectations of incremental costs due to tariffs would be at around US$60 million, lower than prior estimates, as it now accounts for a 'more favorable' rate. In May, the U.S. said it would cut extra tariffs it imposed on Chinese imports in April this year to 30 per cent from 145 per cent for the next 90 days. Hasbro expects annual revenue to be up mid-single digits in constant-currency terms, compared with prior predictions to be up slightly. In the second quarter, its revenue in 'Wizards of the Coast' and digital gaming segment rose 16 per cent due to momentum in 'Magic: The Gathering,' whose revenue surged 23 per cent on growth in tabletop. 'Hasbro is finding its footing in a tough environment while laying the groundwork for long-term growth,' eMarketer analyst Zak Stambor said. After adjusting for a US$1 billion impairment charge related to its consumer products business in the second quarter, Hasbro earned US$1.30 per share, compared with the market expectation of 78 cents, according to estimates compiled by LSEG. Hasbro posted net revenue of US$980.8 million, beating estimates of US$880 million, in the quarter ended June 29. --- Reporting by Anuja Bharat Mistry in Bengaluru; Editing by Arun Koyyur
Wall Street Journal
23-07-2025
- Business
- Wall Street Journal
Hasbro Raises Outlook After Beating Expectations
Hasbro HAS -0.13%decrease; red down pointing triangle raised its full-year outlook, fueled by strength across its Wizards of the Coast business, though revenue slipped and the company swung to a loss in the second quarter, hurt by a large impairment charge. Chief Financial Officer Gina Goetter on Wednesday said that the toymaker's diversified business and cost productivity initiatives support the higher outlook, despite a continued dynamic macro environment.
South China Morning Post
15-07-2025
- Business
- South China Morning Post
Chinese toymaker Pop Mart says first-half revenue to rise by 200% from a year earlier
Chinese toymaker Pop Mart is gearing up for another period of blockbuster growth, following the runaway success of its Labubu toy in international markets since last year, saying it expects first-half revenue and profit to surge from a year earlier. Advertisement In a filing to the Hong Kong stock exchange on Tuesday, the Beijing-based company said it expected revenue for the first half of 2025 to increase by more than 200 per cent from a year earlier, while profit would rise by at least 350 per cent. In April, the company said its first-quarter revenue rose by 170 per cent from a year earlier, driven by a nearly 480 per cent surge in overseas business and close to 100 per cent growth at home. The company attributed its first-half growth to 'the increased global recognition of the Pop Mart brand and its [intellectual properties], and diversified product categories', noting that revenue from all regional markets rose 'rapidly and continuously'. It added that its growing presence in overseas markets, where the brand has a more premium positioning, helped improve its revenue structure and overall gross profit. The company said it also benefited from a substantial increase in profit from economies of scale, cost optimisations and tighter expense controls. Advertisement
