Think about it: tens of millions of Americans, confined to their homes under shelter-in-place orders and banned from leaving for work, schools and summer camps canceled, kids are climbing walls – all During months. What is the solution to such a situation?
Television, of course – but Hollywood is as closed as the rest of the economy, and no one makes new programming. Books, I guess – but do Americans read more? So… board games and toys, maybe?
Exactly. Board games and toys, which just happen to be Hasbro’s strong suit.
And yet, things did not work out as well as they could have. When Hasbro released its second quarter results at the end of last month, the numbers showed big drops across the board (pun intended). Sales fell 13% year over year, and Hasbro lost $ 0.25 per share.
In fact, while Hasbro’s gaming segment fact Enjoying a boost from the stay-at-home trend (sales up 11%), sales were hampered by the fact that many physical stores that would have otherwise sold their games have closed for the pandemic or have took limited stocks to preserve their cash flow.
Bottom line: Hasbro stock which sold for over $ 106 a share earlier this year closed below $ 79 last night, and it’s lost 31% of its value since the start of the year. year. If on January 1 of this year you had invested $ 10,000 in Hasbro stocks, then today you have already lost $ 3,100 of that investment.
And you only have $ 6,900 left.