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Hasbro has a winning hand with Wizards, bucking the trend in retail

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The toymaker had great success with its Wizards of the Coast segment last quarter.
Hasbro, Inc. is experiencing significant success with its Wizards of the Coast and Digital Gaming segment, which includes popular games like Dungeons & Dragons and Magic: The Gathering, bucking the broader retail trend of declining sales. In the third quarter, this segment saw a 25% revenue increase, driven by strong demand for Magic: The Gathering, particularly its Universes Beyond line that collaborates with other popular franchises like Warhammer 40,000 and The Lord of the Rings. Despite challenges in the toy industry, Hasbro's focus on gaming and digital products has led to a 10% rise in overall revenue, with the company also benefiting from a robust direct-to-consumer business and a successful holiday season for its toys. CEO Chris Cocks emphasized the company's strategic shift towards fewer, bigger brands and leveraging digital platforms, which has positioned Hasbro well for continued growth amidst a challenging retail environment.

Read the Full Fortune Article at:
[ https://fortune.com/article/hasbro-has-winning-hand-with-wizards-bucking-retail-trend/ ]