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If You’re Paying Attention, Biden Just Told Us How Democrats Plan to Rig & Steal 2024 Election.
CEO Chris Cocks says challenging conditions expected to stretch into next year, prompting another round of layoffs Hasbro is cutting nearly 20% of its workforce as weak sales for toys and games persist into the critical holiday shopping period. The maker of Transformers action figures, the Dungeons & Dragons fantasy game and Monopoly will cut about 1,100 jobs, on top of 800 layoffs earlier this year. https://www.wsj.com/business/retail/hasbro-layoffs-toy-company-ed760682 New low for a toy company to layoff right before holidays..
This just strikes me as the world is changing. I don’t know any kids but you always see even toddlers playing on iPads. I bet most kids want to play Minecraft or eat Mr Beast chocolate, instead of collecting plastic junk
True during Covid parents also bought ton of toys with Covid $$ and to keep kids busy as they are at home which masked the shift in kids moving away from toys.
Lego is still doing well, but other plastic toys not so much
Hasbro is also a greedy as fuck company and will die by their own shortsightedness
https://www.statista.com/statistics/198710/net-revenues-of-hasbro-since-2006/ Looks mostly flat for a decade. Then went way up and maybe back down. Return to the same flat line as before is market correction?
That’s 2022, for 2023 they are projected to be down 10% and they increased to 15% couple weeks ago. https://investor.hasbro.com/news-releases/news-release-details/hasbro-reports-third-quarter-2023-financial-results
From 2019 to 2022 they went up like 30%, but from 2007 to 2014 they were ~flat. One year of down is nothing. Invest for the long term
I’ve spent so much on MonopolyGO though
Damn this sucks, laid off by Mr. Cocks
Do we care about the toy industry?
This feels like a short sighted decision
Bingo
Rhode island is in ruins
Toys are going the way of Blockbuster. It's all about video games and handhelds now.