Hasbro sees double-digit revenue growth, unveils new segments
Hasbro #Hasbro
(Reuters) – Hasbro Inc said on Thursday it expected revenue growth at three new reporting segments to drive a double-digit top-line growth for the toymaker in 2021, after the COVID-19 pandemic hurt its sales last year.
The “Monopoly” toymaker, which realigns about a year after its acquisition of Entertainment One – the firm behind preschool brand Peppa Pig – said the three new reporting segments are “Consumer Products,” “Wizards of the Coast and Digital Gaming” and “Entertainment”.
Hasbro earlier this month said it would invest more into making new toy and game lines as well as content across scripted and unscripted live action, animated TV and film this year.
Hasbro’s revenue declined about 8% last year, while net income more than halved.
“Our investments and plans are intended to drive revenue growth across each segment over a multi-year period,” Chief Executive Brian Goldner said in a statement on Thursday.
(Reporting by Praveen Paramasivam in Bengaluru; Editing by Maju Samuel)