on the toy side of the business,' James Zahn, editor-in-chief of trade magazine 'The Toy Book', said. Leaning into gaming in Q1 helped (Hasbro) offset some of the inventory struggles. ''Magic: The Gathering' is becoming a monster brand with a steady stream of new product releases that are fueling sales. In contrast, rival Mattel Inc (MAT.O) on Wednesday posted a bigger-than-expected quarterly loss, pinched by retailers trimming orders for its Barbie and Hot Wheels toys. The company reported first-quarter adjusted earnings in line with analysts' estimates and maintained its annual sales and profit forecasts. While Hasbro is still cautious about consumer spending, it is banking on a series of blockbuster movie releases, upcoming 'Magic: The Gathering' launches, and expectations of a return to normal shipment levels to retailers to steer through 2023, outgoing CFO Deborah Thomas said. That helped the Monopoly board game maker offset a 23% slump in revenue at its consumer products segment, its largest business unit, stemming from weaker demand for NERF blasters, Play-Doh and Peppa Pig toys.

However, Hasbro saw a 16% jump in revenue from its 'Magic: The Gathering' tabletop and digital game, with fans piling on the February release of its 'Phyrexia: All Will Be One' game set. toy industry this year, with Hasbro expecting the toys and games market to remain flat or decline this year. The company's shares were up about 9% at $56.09.Īn overall slowdown in demand for toys and retailers cutting back on orders to manage their inventories are set to temper the U.S. April 27 (Reuters) - Hasbro Inc (HAS.O) topped Wall Street estimates for quarterly revenue on Thursday as players snapped up its 'Magic: The Gathering' game sets, helping counter weak demand for its toys and action figures.

Minority Monsters! by Tab Kimpton