Earlier this morning, Hasbro held their 2018 1st Quarter Financial Results conference call to investors and press. TFW2005 staff attended live online to learn how the Transformers brand did last quarter and what lies ahead in the future.
Hasbro is working hard to recover from the impact created by Toys”R”Us Bankruptcy. It was reported that a loss of $61.4 million was associated with the unfortunate event. With this loss, Hasbro posted a total $112.5 million loss in Q1 2018 results.
“The Hasbro teams executed extremely well during a challenging first quarter,” said Brian Goldner, Hasbro’s chairman and chief executive officer. “Hasbro brands are resonating with consumers and consumer takeaway is positive. However, as we discussed earlier in the year, our first quarter was expected to be difficult. We are working to put the near-term disruption from Toys”R”Us behind us. Our global retailers view this as an opportunity in a key consumer category and are partnering with Hasbro to develop growth plans for our brands. New Hasbro initiatives shipping in this quarter and beyond won’t be caught up in the Toys”R”Us liquidation process. With the rapid shift to a converged retail environment, we accelerated plans we originally had spread throughout the year to transform our commercial organization on a more immediate basis.”
Brian also mentioned Transformers: Bumblebee; their upcoming movie:
“Transformers: Bumblebee; our first film under our new agreement with Paramount Pictures production and distribution agreement, will hit theaters this December and mark an important evolution in Hasbro’s role as storytellers.”
With that, we wrap-up our report of the financial call. You can check out an infographic of the summary, after the jump.