Hasbro Inc

Mathisworks | Digitalvision Vectors | Getty ImagesCorporate America has a message for Wall Street: It's serious about cutting costs this year.From toy and cosmetics makers to office software sellers, executives across sectors have announced layoffs and other plans to slash expenses — even at some companies that are turning a profit. Barbie maker Mattel, PayPal, Cisco, Nike, Estée Lauder and Levi Strauss are just a few of the firms that have cut jobs in recent weeks.Department store retailer Macy's said it will close five…

A monopoly game sits under the Hasbro logo during Brand Licensing Europe at ExCel on November 18, 2021 in London, England.John Keeble | Getty ImagesToy company Hasbro reported a more than 20% hit to its fourth-quarter revenue and issued a downbeat 2024 forecast Tuesday morning. Shares of the company plunged about 10% in premarket trading.Here's how Hasbro performed in the fourth quarter compared with estimates from LSEG, formerly known as Refinitiv:Earnings per share: 38 cents vs. 66 cents per share expected.Revenue:…

Wayfair is cutting 13% of its global workforce as the digital home goods retailer continues its efforts to trim down its structure, cut out layers of management and reduce costs after going "overboard" with corporate hiring during the Covid pandemic, it announced Friday. The company plans to lay off around 1,650 employees, including 19% of its corporate team, with a focus on people in management and leadership positions, Wayfair said. The restructuring – the third Wayfair has implemented since summer 2022 – is expected to…

Pedestrians carrying Nike and Allbirds shopping bags in the SoHo neighborhood of New York on Oct. 24, 2021.Nina Westervelt | Bloomberg | Getty ImagesAfter years of unbridled consumer spending on everything from home improvement to dream vacations, some companies are now finding the limits of their pricing power.Shipping giant FedEx last week said customers have shied away from speedier, pricier shipping options. Airlines including Southwest discounted off-peak fares in the fall. The likes of Target and Cheerios maker…

Etsy is laying off 11% of its workforce at the height of the holiday season as the e-commerce giant looks to restructure its business and streamline costs against a "very challenging" macro and competitive environment, the company announced Wednesday. Approximately 225 employees will be cut from Etsy's workforce, which will bring the headcount for the core Etsy marketplace to about 1,770 people, similar to the company's headcount in early 2022 and above 2020 levels. Etsy CEO Josh Silverman noted in a letter to employees…

Hasbro is laying off about 1,100 employees as the toy maker struggles with soft sales that have carried into the holiday shopping season, according to a company memo obtained by CNBC.Hasbro had about 6,300 employees as of earlier this year, according to a company fact sheet.Shares of the company fell more than 4% in extended trading Monday."We anticipated the first three quarters to be challenging, particularly in Toys, where the market is coming off historic, pandemic-driven highs," CEO Chris Cocks said in the memo.…

Tom Blyth and Rachel Zegler star as Coriolanus Snow and Lucy Gray Baird in Lionsgate's "Hunger Games: The Ballad of Songbirds and Snakes."Lionsgate"Snow lands on top."It's the mantra of the main character Coriolanus Snow in the upcoming "Hunger Games: The Ballad of Songbirds and Snakes" and the hope of its distributor Lionsgate.The prequel to the $3 billion Hunger Games franchise, based on the 2020 novel of the same name by author Suzanne Collins, is a standalone film set some 60 years before Katniss Everdeen volunteers…

Game maker HasbroJustin Sullivan | Getty ImagesToymaker stocks rallied Thursday after rivals Hasbro and Mattel posted quarterly results and offered optimistic comments about how their intellectual property will boost their businesses.Hasbro shares spiked more than 13% Thursday after the toymaker reported first-quarter revenue that topped Wall Street's expectations. The Monopoly board game maker posted net revenue of $1 billion, beating the $878.4 million expected based on an average of analysts' estimates compiled by…

Over the weekend, Wizards of the Coast sent Pinkerton agents to the home of Dan Cannon–the YouTuber known as oldschoolmtg–in order to retrieve a selection of unreleased cards from the latest Magic: The Gathering set. While March of the Machine: The Aftermath was supposed to be revealed at the beginning of May, Cannon acquired a selection of boosters and showed them on his YouTube, resulting in the reveal of around 75% of the limited release set. Gillian Jacobs Reacting to Her D&D Character Sheet From Community | io9…

Hasbro's 2023 outlook might feel like déjà vu. At first, anyway.The toymaker on Thursday announced its fourth-quarter results while issuing conservative guidance for the year, mimicking the modest expectations it had when it entered 2022.Hasbro is maintaining some optimism though, pointing to key bright spots from releases like Transformers and its growing Wizards of the Coast gaming division, which houses Dungeons & Dragons, along with the turnaround plan it announced in October.Shares were flat by market close on…