Hasbro (HAS) posted better-than-expected earnings for its second quarter with adjusted earnings of $1.22 per share against an expected $0.78. Some of those earnings are due in part to Hasbro’s increased digital gaming presence.
The Toy Book Editor-In-Chief James Zahn joins Wealth! to give insight into Hasbro’s earnings and what investors can expect in the toy and retail sector moving forward.
Zahn comments on the demand coming from Adults for games: "The adult audience has always been there for toys… But we really hit this point during the pandemic where folks were reconnecting with the stuff that they were into as kids. So now we have an industry where about 25% of all of the toys and games sold are for an adult audience. On Hasbro’s earning call this morning, Chris Cocks, the CEO, mentioned that about 60% of Hasbro’s revenue is coming from consumers that are ages 13 and up. So what we’ve seen is a swing of older kids and grown ups and teens and tweens. They’re reconnecting with play and in new ways."
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