BotBots are mischievous little robots who came to life from everyday objects inside a shopping mall! This rare type of Transformers robot is tiny, mischievous, and great at hiding!
Not long ago and somewhere close by, a glowing mist filled with TRANSFORMERS energy called ENERGON came down from the sky and covered a shopping mall. The things inside came to life as little TRANSFORMERS robots! These bots can hide in plain sight as everyday objects, meaning no one knows what's a bot and what's not! Mischievous, funny, and super silly, these are ... BOTBOTS!
When the Energon hit the objects inside, it made them More Than Meets the Eye. Candy, sports equipment, electronics, school supplies, and other things came to life as little Transformers robots. These robots hide in plain sight at the mall, disguised as the stuff we use everyday.
Each BotBots character belongs to a themed team based on what kind of store they belong in.
There are 61 unique 1-inch characters to collect in the first series of BotBots, each with their own individual personality. Like all Transformers, the characters change from an ordinary object into a little robot in just 3-5 easy steps.
The BotBots all belong to different tribes, inspired by product types you might find in a shopping mall, including the "Sugar Shocks" (sweet treats), the "Backpack Bunch" (school equipment), the "Toilet Troop" (bathroom items), the "Techie Team" (electronic gadgets), the "Greaser Gang" (fast food), the "Shed Heads" (gardening gear), and the "Jock Squad" (sporting goods).
While the company won't confirm layoffs, Hasbro said Wednesday it is making "meaningful organizational changes" that will affect "a single-digit percentage" of its global workforce.
The Providence-based toymaker sent a statement to Eyewitness News after inquiries about possible layoffs at the company.
"While some of these changes are difficult, we must ensure we have the right teams in place with the right capabilities to lead the company into the future," spokeswoman Julie Duffy said in a statement. "We continue to add new capabilities based on our understanding of the consumer and how our retailers are going to market, while evolving the way we organize our business across our Brand Blueprint."
The announcement of Hasbro making changes comes a day after Pomerantz Law Firm said that it is investigating claims on behalf of investors of Hasbro, Inc. as to whether Hasbro and certain of its officers and/or directors "have engaged in securities fraud or other unlawful business practices."
"The claims have no merit and we intend to vigorously defend against them," said Duffy and that the staff cuts are unrelated.
According to reports, in October of 2017 Hasbro said they saw a 5% decline in the Company’s U.S. and Canada segment’s operating profit to $217.3 million, compared to $228 million in 2016.
After the disclosures, Hasbro’s stock dropped $8.44 per share and closed at $89.75 per share on October 23, 2017.
AcademyofDrX wrote:The excerpt below is directly from PR wire copy:
"According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Hasbro's relationship with Toys ''R'' Us was becoming increasingly important to Hasbro's business, but Toys ''R'' Us was in far worse financial condition than was being publicly reported; (2) Hasbro was experiencing significant undisclosed adverse sales issues in two key markets - the United Kingdom and Brazil - which were negatively impacting Hasbro's efforts to grow sales in those markets; and (3) as a result of foregoing, defendants' statements about Hasbro's business and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages."
Companies are required by law to tell their shareholders how their business is doing. These statements have to be truthful. The alleged fraud is basically that before the TRU bankruptcy, Hasbro said that things were okay, and after they weren't very okay. That's the gist of it. Ther no expectation that there are fudged numbers in a ledger, but if Hasbro knew the risks of the bankruptcy and didn't tell investors, that would make those statements false. I wouldn't recommend reading too much into this stuff.
PUMA AND HASBRO ANNOUNCE NEW COLLABORATION
Robots In Disguise: PUMA and Hasbro Create Transformers Themed Footwear
Global sports brand PUMA has teamed up with play and entertainment group Hasbro Inc. (NASDAQ:HAS) to create exciting Transformers themed footwear. First introduced by Hasbro and Japan’s Takara as a toy series in 1984, the adventures of the robots which can transform into motor vehicles also became a popular cartoon series. With the more recent addition of a blockbuster cinema franchise, Transformers has turned into one of the most recognizable brands in entertainment. Millions have watched the epic battles between Autobots and Decepticons, and protagonists such as Optimus Prime and Megatron have become household names.
Partnering with creative brands to bring consumers a range of appealing products, while pushing boundaries with futuristic design and style, has become a key part of PUMA’s strategy. PUMA will combine the Transformers theme with its RS-X shoe, which is based on the iconic 1980s Running System (RS) line. For PUMA and Hasbro, the launch of this collaboration comes ahead of an important date for Transformers fans: the release of BUMBLEBEE, the latest cinema blockbuster in the franchise.
“We are proud to collaborate with PUMA, one of the world’s most popular and respected sports apparel brands,” said Nikki Gie, EMEA Director - Fashion & Home, Hasbro. “With nostalgia for the 1980s at an all-time high, we are excited to bring together two 80s icons for the first time: Tranformers and the PUMA RS shoe. We hope fans everywhere will rock the Transformers RS-X sneakers when they come out to see even more 80s vibes in BUMBLEBEE, in theaters this December!”
Adam Petrick, Director for Brand & Marketing at PUMA adds, “We are excited to partner with Hasbro to create a fun collaborative collection that will bring the iconic robots to life. Having achieved global icon status, Transformers make perfect partners to push forward stories of reinvention within modern-day pop culture”
The PUMA x TRANSFORMERS range will be sold exclusively at Foot Locker stores. More details will be revealed over the coming weeks. Follow @PUMASportstyle for release information.
PUMA is one of the world’s leading Sports Brands, designing, developing, selling and marketing footwear, apparel and accessories. For over 65 years, PUMA has established a history of making fast product designs for the fastest athletes on the planet. PUMA offers performance and sport-inspired lifestyle products in categories such as Football, Running and Training, Golf, and Motorsports. It engages in exciting collaborations with renowned design brands to bring innovative and fast designs to the sports world. The PUMA Group owns the brands PUMA, Cobra Golf and Dobotex. The company distributes its products in more than 120 countries, employs more than 11,000 people worldwide, and is headquartered in Herzogenaurach/Germany. For more information, please visit http://www.puma.com.
Hasbro (NASDAQ: HAS) is a global play and entertainment company committed to Creating the World's Best Play Experiences. From toys and games to television, movies, digital gaming and consumer products, Hasbro offers a variety of ways for audiences to experience its iconic brands, including NERF, MY LITTLE PONY, TRANSFORMERS, PLAY-DOH, MONOPOLY, BABY ALIVE and MAGIC: THE GATHERING, as well as premier partner brands. Through its entertainment labels, Allspark Pictures and Allspark Animation, the Company is building its brands globally through great storytelling and content on all screens. Hasbro is committed to making the world a better place for children and their families through corporate social responsibility and philanthropy. Hasbro ranked No. 5 on the 2018 100 Best Corporate Citizens list by CR Magazine, and has been named one of the World’s Most Ethical Companies® by Ethisphere Institute for the past seven years. Learn more at http://www.hasbro.com, and follow us on Twitter (@Hasbro & @HasbroNews) and Instagram (@Hasbro).
IDW Announces Signing Schedule and Panels for New York Comic Con 2018
Booth #1844 Hosts the Superstars of Comics and Entertainment Every Day at NYCC!
SAN DIEGO, CA (September 26, 2018) — IDW Publishing today announces the company’s action-packed signing schedule for next week's New York Comic Con, featuring exclusive appearances with such fan-favorite talent as Joe Hill, Sam Kieth, Delilah S. Dawson, Alan Robert, Michel Fiffe, Gabriel Rodriguez, Kelly Sue DeConnick, Kieron Gillen, Elsa Charretier, the voice cast of Rise of the TMNT, and so many, many more!
Check out our complete list of booth guests below, as well as our panel programming and special events!
Thursday, October 4th
12:00pm – 1:00pm: Ghostbusters – Corin Howell
12:00pm – 1:00pm: Duck Tales – Joe Caramagna
1:00pm – 3:00pm: Batman/The Maxx – Sam Kieth (*exclusive available)
2:00pm – 3:00pm: Star Wars Adventures: Vader’s Castle – Derek Charm (*exclusive available)
3:00pm – 4:00pm: The Jekyll Island Chronicles – Steve Nedvidek
3:00pm – 4:00pm: Rom & Micronauts – Paolo Villanelli
3:00pm – 4:00pm: Girl Town – Carolyn Nowak
4:00pm – 5:00pm: Transformers – Alex Milne, Andrew Griffith, Nick Roche, John Barber, Brendan Cahill (*exclusive available)
5:00pm – 6:00pm: Locke & Key – Joe Hill, Gabriel Rodriguez (*exclusive pin available. Note: Ticketed signing, see IDW staff for details)
6:00pm – 7:00pm: TMNT Universe – Paul Allor
6:00pm – 7:00pm: G.I. Joe – Natali Sanders (*exclusive available)
Friday October 5th
10:00am – 12:00pm: Batman/The Maxx – Sam Kieth (*exclusive available)
11:00am – 12:00pm: The Jekyll Island Chronicles – Steve Nedvidek
12:00pm – 1:00pm: Star Wars Adventures – Elsa Charretier, Pierrick Colinet
12:00pm – 1:00pm: Girl Town – Carolyn Nowak
12:00pm – 1:00pm: The Beauty of Horror – Alan Robert
1:00pm – 2:00pm: G.I. Joe – Michel Fiffe (*exclusive print available)
1:00pm – 2:00pm: My Little Pony – Agnes Garbowska, Tony Fleecs, Sara Richard, Andy Price, Jay Fosgitt (*exclusive available)
2:00pm – 3:30pm: Rise of the TMNT Voice Cast Signing – Andy Suriano, Ant Ward, Omar Miller, Josh Brener, Brandon Mychal Smith, Kat Graham, Rob Paulsen, Maurice LaMarche (*exclusive available. Note: Ticketed signing, see IDW staff for details)
4:00pm – 5:30pm: The Cape and Locke & Key – Joe Hill, Gabriel Rodriguez, Jason Ciaramella, Zach Howard (*exclusive pin available)
6:00pm – 7:00pm: Femme Magnifique – Shelly Bond, Kieron Gillen, Alison Sampson, Dan Parent, Kelly Sue DeConnick (*exclusive available)
Saturday October 6th
10:00am – 11:00am: Goosebumps – Jeremy Lambert, Chris Fenoglio
11:00am – 12:00pm: The Jekyll Island Chronicles – Steve Nedvidek
11:00am – 12:00pm: Sonic the Hedgehog – Tracy Yardley, Jamal Peppers, Jennifer Hernandez, Jonathan Gray (*exclusives available)
12:00pm – 1:30pm: Locke & Key – Joe Hill, Gabriel Rodriguez (*exclusive pin available)
2:00pm – 3:00pm: Coin-Op Comics – Maria Hoey
2:00pm – 3:00pm: The Story of My Tits – Jennifer Hayden
2:00pm – 3:00pm: Strong Female Protagonist – Molly Ostertag
2:00pm – 3:00pm: Girl Town – Carolyn Nowak
3:00pm – 4:00pm: 25 Years of Tom Tomorrow – Tom Tomorrow
3:00pm – 4:00pm: Love Addict – Koren Shadmi
3:00pm – 4:00pm: Ward’s Valley – Bobby Curnow
4:00pm – 5:00pm: Femme Magnifique – Shelly Bond, Paige Braddock, Mags Visaggio, Alison Sampson, Megan Hutchison, Shawn Martinbrough, Chuck Brown, Jill Thompson (*exclusive available)
5:00pm – 7:00pm: Batman/The Maxx – Sam Kieth (*exclusive available)
5:00pm – 6:00pm: Star Wars Adventures: Vader’s Castle – Derek Charm (*exclusive available)
6:00pm – 7:00pm: Rom & G.I. Joe – David Messina
8:00pm: Black Crown's First Anniversary Signing Party (St. Mark's Comics at 11 St. Mark's Place) – Peter Milligan, Nick Robles, Allison Sampson, Megan Hutchison, Shelly Bond, Gabriel Rodriguez
Sunday October 7th
10:00am – 12:00pm: Batman/The Maxx – Sam Kieth (*exclusive available)
12:00pm – 1:00pm: G.I. Joe – Michel Fiffe, Natali Sanders (*exclusives available)
12:00pm – 1:00pm: Stretch Armstrong – Nikos Koutsis
1:00pm – 2:00pm: Euthanauts – Nick Robles
1:00pm – 2:00pm: Full Bleed: The Comics & Culture Quarterly – Gideon Kendall, Jarrett Melendez, Sara Richard, D.A. Cox, Dirk Wood
2:00pm – 3:00pm: Duck Tales – Joe Caramagna
2:00pm – 3:00pm: Locke & Key – Gabriel Rodriguez (*exclusive pin available)
3:00pm – 4:00pm: Star Wars Adventures – Delilah Dawson
[url]PANELS & SPECIAL EVENTS[/url]
Thursday, October 4th, 5:15pm – 6:15pm: Room 1B03
WE SPOKE OUT: COMIC BOOKS AND THE HOLOCAUST — FEATURING NEAL ADAMS!
Neal Adams, iconic artist legend, Dr. Rafael Medoff, Director of the David S. Wyman Institute for Holocaust Studies, and multiple Eisner Award-winner Craig Yoe, discuss their acclaimed book, “We Spoke Out: Comic Books and the Holocaust.” Explore this powerful—and timely—multimedia presentation and behind-the-scenes discussion. A do-not-miss!
Friday, October 5th, 12:15pm – 1:15pm: Room 1A02
IDW & TOP SHELF PRESENT: THE HUMAN CONDITION
Featuring vibrant stories that bring tales of strength, courage, and determination to audiences of all ages. As the graphic novel space gains popularity and general interest, it presents a powerful medium for sharing complex stories or characterizations across the nuanced tableau of our world. From books featuring accounts within the Spanish Revolution, to the personal demons that cast doubt within our lives — this panel will show the strength of sequential graphic story telling in the 21st Century. Join IDW’s Justin Eisinger and Top Shelf’s Leigh Walton, along with other creators Alison Sampson (Femme Magnifique), Jennifer Hayden (The Story of My Tits), Dirk Wood (Full Bleed), and more, for a conversation on the strength of sequential graphic story telling in the 21st Century.
Friday, October 5th, 5:30pm – 6:30pm: Room 1A24
ONI PRESS & IDW PUBLISHING PRESENT: Rick and Morty vs. Dungeons & Dragons!
Roll for initiative! Join superstar writers Patrick Rothfuss (The Kingkiller Chronicle) and Jim Zub (Avengers, Dungeons & Dragons, Wayward) to talk the Rick and Morty vs. Dungeons & Dragons comic crossover. Learn how this Oni Press/IDW Publishing project came to be, and about the madness that lies within. Moderated by Oni Press Editor Sarah Gaydos.
Saturday, October 6th, 2:45pm – 3:45pm: Room 1A02
IDW PUBLISHING: THE BIG SCOOP
Get the insider’s scoop on what’s new and upcoming from IDW Publishing! Join Editor-In-Chief John Barber and a host of top-secret creators for exciting announcements and behind-the-scenes stories as IDW enters it’s 20th year of publishing the best, widest range of comic books, art books, and more! Come for the best announcements at the show, stay for the Q&A! JUST ADDED: Joe Hill & Gabriel Rodriguez!
Saturday, October 6th, 8:00pm: St. Mark's Comics
BLACK CROWN'S FIRST ANNIVERSARY SIGNING PARTY AT ST. MARK'S COMICS
Head to nearby St. Mark's Comics (at 11 St. Mark's Place, New York, NY 10003) to celebrate the first year of Shelly Bond's defiant and utterly badass comic imprint: Black Crown! Peter Milligan, Nick Robles, Allison Sampson, Megan Hutchison, Gabriel Rodriguez, and more will be on-hand for autographs. Get your fix of punk rock, art, and alchemy!
Sunday, October 7th, 11:00am – 12:00pm: Room 1A24
MAKING KIDS’ COMICS THE IDW WAY!
Join an all-star team of IDW creators for an out-of-this-world interactive experience bringing the best comics for kids (of all ages) right to you! From the people who bring you Teenage Mutant Ninja Turtles, My Little Pony, Star Wars Adventures, Sonic the Hedgehog, Marvel Action: Spider-Man, Marvel Action: Black Panther, and more—get a hands-on crash course on making comics… plus take a peek behind the curtain to see what’s coming next!
We look forward to seeing you in the Big Apple!
Samantha Lomow promoted to President, Hasbro Entertainment Brands; Jonathan Berkowitz promoted to President, Hasbro Brands
PAWTUCKET, R.I.—Hasbro, Inc. (NASDAQ: HAS) today announced the promotion of Samantha Lomow to President, Hasbro Entertainment Brands, and Jonathan Berkowitz to President, Hasbro Brands. Both leaders will continue to report to John Frascotti, Hasbro President and Chief Operating Officer.
“Samantha and Jonathan are exceptional leaders, passionate about innovation and dedicated to our mission to create the world’s best play experiences,” said Frascotti. “We are confident that in their new roles, they will help us accelerate the momentum behind our business and brands.”
During her 18-year tenure at the company, Ms. Lomow has played a tremendous role in growing Hasbro brands and expanding them beyond the toy space. She has been instrumental in the TRANSFORMERS franchise since the first movie in 2007, and she helped bring MY LITTLE PONY to the big screen for the first time.
In her new role, she will be responsible for leading all of Hasbro’s current, new and vault entertainment-driven, story-led brands. This includes oversight for MY LITTLE PONY, TRANSFORMERS and POWER RANGERS, among others, and continuing to partner with Allspark on emerging entertainment brands. She will also continue to lead Hasbro’s strategic partner portfolio, including relationships with The Walt Disney Company, Universal, Nickelodeon, Sesame Workshop and Blizzard Entertainment.
In his 15 years at Hasbro, Mr. Berkowitz has led a number of brands across the portfolio, including NERF, which he led to its Franchise Brand status in 2011. Most recently, he has overseen the Hasbro Gaming portfolio, which has grown significantly under his leadership with new products and brands, as well as reimagined classics. He has also been instrumental in rolling out the Company’s Quick Strike approach, which has become an important differentiator for Hasbro in getting trends and new product ideas to market in record time.
In his new role, Mr. Berkowitz will oversee the Hasbro Gaming portfolio, including MONOPOLY, as well as NERF, PLAY-DOH, BABY ALIVE, FURREAL, and initiatives driven by the Quick Strike team, among others. He will also manage all new and vault brands not driven by entertainment.
Hasbro (NASDAQ: HAS) is a global play and entertainment company committed to Creating the World's Best Play Experiences. From toys and games to television, movies, digital gaming and consumer products, Hasbro offers a variety of ways for audiences to experience its iconic brands, including NERF, MY LITTLE PONY, TRANSFORMERS, PLAY-DOH, MONOPOLY, BABY ALIVE and MAGIC: THE GATHERING, as well as premier partner brands. Through its entertainment labels, Allspark Pictures and Allspark Animation, the Company is building its brands globally through great storytelling and content on all screens. Hasbro is committed to making the world a better place for children and their families through corporate social responsibility and philanthropy. Hasbro ranked No. 5 on the 2018 100 Best Corporate Citizens list by CR Magazine and has been named one of the World’s Most Ethical Companies® by Ethisphere Institute for the past seven years. Learn more at www.hasbro.com, and follow us on Twitter (@Hasbro & @HasbroNews) and Instagram (@Hasbro).
© 2018 Hasbro, Inc. All Rights Reserved.
TFCon 2018 wrote:We are pleased to welcome back Transformers comic book artist Casey Coller to TFcon Chicago 2018. Casey is known to fans for his work penciling various issues and variant covers for IDW’s Robots In Disguise, More Than Meets the Eye, Optimus Prime and Lost Light comics as well as many other one-shot issues. He will be selling prints and offering commissions to attendees all weekend long.
Chicago, Illinois. TFcon USA is pleased to announce that Flint Dille will join its exciting guest line-up for its upcoming show, which will take place inside the Crowne Plaza Chicago O’Hare Hotel & Conference Center (5440 North River Rd. Rosemont, Illinois 60018); October 26-28, 2018.
As an American screenwriter, game designer and novelist, Dille is best know for his animated work on Transformers, for which he was story editor on The Return of Optimus Prime (Parts 1 &2) along with 28 other episodes in addition to G.I Joe, An American Tail: Fievel Goes West, and his game-writing, The Chronicles of Riddick: Escape from Butcher Bay and Dead to Rights.
Of special note, Dille is the grandson of John F. Dille, publisher of the original Buck Rogers comic strip, and is part of the Dille Family Trust, which owns the rights to the character.
To view Dille’s complete work, please visit: https://www.imdb.com/name/nm0226863/
“We are pleased to welcome Flint Dille to TFcon USA," says TFcon Founder and General Manager Colin Douglas. "Fans that are familiar with his work will be excited to meet him in person."
Dille will be available for photographs and autographs all weekend long.
Former Chairman of Paramount Television Group and President of Universal Television Kerry McCluggage Named CEO of IDW Media Holdings
Founder and Former CEO Ted Adams to Return in New Creative Role
as IDW Media Holdings Expands Its Global Entertainment Business
STAMFORD, CT and SAN DIEGO, CA (July 25, 2018); Veteran television executive Kerry McCluggage, who was welcomed to the IDW Media Holdings, Inc. (OTCQX: IDWM) Board of Directors in September 2017, has been named as the company’s new Chief Executive Officer. The former Paramount TV Chairman and Universal TV President will replace current CEO and founder Ted Adams, who is taking a brief sabbatical and will return to IDW in a new creative role.
In making the announcement, IDW Media Holdings’ Chairman Howard Jonas, stated, “As Chairman of Paramount TV, Kerry grew that operation from $700 million to $3.2 billion in just over a decade, making it one of the world’s leading television production companies. His leadership abilities and keen understanding of the entertainment industry have also enabled him to achieve success with his own film and television production company Craftsman Films. Similarly, his contributions as a member of the IDW Board of Directors have provided him with beneficial insights necessary to continue IDW’s story of success as the company seeks to expand upon its business model.”
“IDW has demonstrated impressive achievements in each of its core divisions. It’s media unit, encompassing publishing and games as well as reimagining the entertainment production model, has achieved tremendous success and is poised for phenomenal growth. There is also a great team of passionate, talented professionals that I am eager to lead and learn from as we continue to build upon the incredible foundation created by Ted Adams and others over the past 20 years,” said McCluggage.
“I’m excited to see where Kerry takes the company I’ve been building for the last 20 years,” added Adams. “I’m looking forward to taking a brief sabbatical and returning to IDW in a new role, and have complete confidence that the company will continue to build upon its current trajectory in the very capable hands of Kerry McCluggage. I leave him with very dedicated and smart teams across all three of our divisions. I’m proud of the work we’ve been able to do together.”
As both an industry executive and independent producer for over 40 years, McCluggage has also been an investor in media companies, including Allumination FilmWorks LLC. and Content Media Corporation. Since 2002, he has served as President of Craftsman Films, an independent production company developing motion picture and television product. Additionally, McCluggage is a founding shareholder of Old West Investment Management.
Prior to forming Craftsman Films, McCluggage was Chairman of the Paramount Television Group, a position he held for 10 years with responsibility for all aspects of the company's television operations. During his time with Paramount, McCluggage shepherded many award winning and successful series, including the Emmy Award-winning “Frasier" and "Cheers," and the phenomenally successful STAR TREK franchise, as well as the venerable magazine series "Entertainment Tonight" and helped develop and launch the original plan for UPN (known as The United Paramount Network).
Before joining Paramount, McCluggage was with Universal, where he established the company as a significant supplier of series with such groundbreaking shows as "Quantum Leap," "Law & Order," "Northern Exposure," “Miami Vice” and "Coach." he joined as a programing assistant in 1978 and would have oversight of all development and production for such series as "Magnum, P.I.," "The Equalizer," "Murder She Wrote," "The A-Team," and ultimately rising to President of Universal Television.
John Barber Inducted into 2018 Transformers Hall of Fame
In a surprise turn at the Hasbro Product Panel, Hasbro inducted not only two characters into their Transformers Hall of Fame, but real-live human being John Barber, as well! The unexpected announcement acknowledged his many years of service in writing and editing IDW’s Transformers titles, and Barber – an unsuspecting audience member – was called up to accept his award in person.
“It was a real surprise and an absolute honor,” says Barber. “I’ve done my best to live up to the legacy of these characters and their stories, and I want to thank all my friends at Hasbro and my collaborators in the world of comics — and, of course, all the fans. We wouldn’t be anywhere without you!”
Go-Bots Celebrates 35th Anniversary with All-New Comic Book Series by Tom Scioli
IDW Publishing is proud to announce that Tom Scioli, the visionary creator that brought you Transformers vs. G.I. Joe, will unleash his imagination on the wonderful world of Go-Bots! Launching in October, Go-Bots will be the first story to feature classic toy and cartoon characters like Leader-1, Scooter, Turbo, and Cy-Kill’s Renegades in over three decades!
“This is a dream project – I’m writing, drawing, coloring, and hand-lettering this book. It’s a labor of love,” says Scioli. “The idea of robots with human personalities used to be science fiction. Now, the world of living machines is here – we’re living it. The time is right for Go-Bots!”
Second quarter 2018 revenues of $904.5 million;
U.S. and Canada segment revenues down 7%; International segment revenues down 11%; Entertainment and Licensing revenues up 26%;
Operating profit margin of 9.7%;
Reported net earnings of $60.3 million, or $0.48 per diluted share;
Strengthened brand portfolio with acquisition of POWER RANGERS;
Ended the quarter with $1.2 billion in cash and returned $152.8 million to shareholders; $78.7 million in dividends and $74.1 million in share repurchases.
PAWTUCKET, R.I.--(BUSINESS WIRE)--Jul. 23, 2018-- Hasbro, Inc. (NASDAQ: HAS) today reported financial results for the second quarter 2018. Net revenues for the second quarter 2018 decreased 7% to $904.5 million versus $972.5 million in 2017. The lower revenues reflect the liquidation of Toys“R”Us in the U.S. and many other global markets. In addition, revenues declined internationally, most notably in Europe, as a result of managing retail inventory amid a rapidly evolving retail landscape.
Net earnings for the second quarter 2018 were $60.3 million, or $0.48 per diluted share, compared to $67.7 million, or $0.53 per diluted share, for the second quarter of 2017.
“2018 is unfolding as expected as our teams manage the liquidation of Toys“R”Us in many markets and address the rapidly evolving European retail landscape,” said Brian Goldner, Hasbro’s chairman and chief executive officer. “We are investing in our business - in innovation, entertainment and a modern global commercial organization, to drive profitable growth in 2019 and beyond. Consumer takeaway is up for our brands, and we further strengthened our brand portfolio through the acquisition of POWER RANGERS. We are focused on moving beyond the near-term disruption of losing a major customer, with a clear path forward including new retailer activations to meet the consumer demand made available by the Toys“R”Us departure.”
“Our global teams executed well despite the disruption in the market,” said Deborah Thomas, Hasbro’s chief financial officer. “With $1.2 billion in cash, and a healthy balance sheet, our financial position is strong. Our diverse portfolio enabled us to partially offset the negative margin impact from lower revenues, but not entirely. We are working with our retailers to successfully execute their plans for Hasbro’s innovative portfolio this holiday season.”
Second Quarter 2018 Major Segment Performance
Net Revenues ($ Millions) Operating Profit ($ Millions)
Q2 2018 Q2 2017 % Change Q2 2018 Q2 2017 % Change
U.S. and Canada $459.3 $494.4 -7% $76.2 $81.6 -7%
International $380.4 $426.6 -11% $0.2 $16.9 -99%
Entertainment and Licensing $64.7 $51.5 +26% $18.6 $11.3 +64%
Second quarter 2018 U.S. and Canada segment net revenues decreased 7% to $459.3 million compared to $494.4 million in 2017. The segment reported an operating profit of $76.2 million, or 16.6% of net revenues, compared to an operating profit of $81.6 million, or 16.5% of net revenues, in 2017. The segment’s quarterly performance was negatively impacted by the loss of Toys“R”Us revenues and the near-term disruption of its stores’ liquidation in the marketplace. Favorable product mix helped offset the negative impact of lower revenues on operating profit margin.
Second quarter 2018 International segment net revenues were $380.4 million, down 11%, compared to $426.6 million in 2017. Revenues in the segment were negatively impacted by efforts to clear excess retail inventory in Europe, as well as the loss of Toys“R”Us revenues in many Europe and Asia Pacific markets. International segment revenues include a favorable $2.6 million impact of foreign exchange. On a regional basis, Europe net revenues decreased 16%, Latin America decreased 3% and Asia Pacific decreased 5%. Emerging markets net revenues decreased 9% in the quarter. The International segment reported an operating profit of $0.2 million compared to an operating profit of $16.9 million in 2017. The decline in operating profit reflects lower revenues combined with fixed cost deleveraging.
Entertainment and Licensing segment net revenues increased 26% to $64.7 million compared to $51.5 million in 2017. Operating profit increased 64% to $18.6 million, or 28.8% of net revenues, compared to $11.3 million, or 22.0% of net revenues, in 2017. The adoption of ASC 606 Revenue from Contracts with Customers favorably impacted the timing of revenue recognition in the quarter, in addition to the continued underlying success in our licensing and entertainment businesses.
Second Quarter 2018 Brand Portfolio Performance
Net Revenues ($ Millions)
Q2 2018 Q2 2017 % Change
Franchise Brands $506.5 $552.4 -8% $868.2 $1,001.6 -13%
Partner Brands $208.0 $230.0 -10% $408.6 $443.0 -8%
Hasbro Gaming* $134.3 $133.9 -- $239.5 $269.6 -11%
Emerging Brands $55.6 $56.2 -1% $104.5 $108.0 -3%
*Hasbro’s total gaming category, including all gaming revenue, most notably MAGIC: THE GATHERING and MONOPOLY, which are included in Franchise Brands in the table above, totaled $312.8 million for the second quarter 2018, up 14%, versus $273.3 million in the second quarter 2017.This category was down 2% to $516.3 million for the six months 2018 versus $526.6 million for the six months 2017.Hasbro believes its gaming portfolio is a competitive differentiator and views it in its entirety.
Second quarter 2018 revenues were negatively impacted by the liquidation of Toys“R”Us in the U.S. and many other global markets, including lower Toys“R”Us revenues and the near-term disruption of its stores’ liquidation in the marketplace, as well as managing retail inventory, primarily in Europe.
Second quarter 2018 Franchise Brand revenues decreased 8% to $506.5 million. Growth in MAGIC: THE GATHERING, MONOPOLY and BABY ALIVE were offset by declines in the other Franchise Brands in the quarter, including TRANSFORMERS which declined versus the movie launch in the second quarter 2017. Franchise Brand revenues grew in the Entertainment and Licensing segment and declined in the U.S. and Canada and International segments.
Partner Brand revenues declined 10% to $208.0 million. Revenue growth in BEYBLADE and MARVEL was more than offset by declines in other Partner Brands. Partner Brand revenues decreased in the U.S. and Canada and International segments.
Hasbro Gaming revenue increased slightly to $134.3 million. Revenue gains in DUNGEONS and DRAGONS, DUEL MASTER, JENGA and DON’T STEP IN IT were partially offset by declines in other properties. Hasbro Gaming revenues increased in the International segment and the Entertainment and Licensing segment; but declined in the U.S. and Canada segment. Hasbro’s total gaming category was up 14% to $312.8 million, including growth in MAGIC: THE GATHERING and MONOPOLY.
Emerging Brand revenue declined 1% to $55.6 million. The category benefited from several new initiatives, including LOST KITTIES and LOCK STARS. This was offset by declines in other Emerging Brands. Emerging Brands revenues grew in the International segment and declined in the U.S. and Canada segment and the Entertainment and Licensing segment.
Dividend and Share Repurchase
The Company paid $78.7 million in cash dividends to shareholders during the second quarter 2018. The next quarterly cash dividend payment of $0.63 per common share is scheduled for August 15, 2018 to shareholders of record at the close of business on August 1, 2018.
During the second quarter, Hasbro repurchased 820,343 shares of common stock at a total cost of $74.1 million and an average price of $90.33 per share. Through the first six months of 2018, the Company repurchased 1.2 million shares of common stock at a total cost of $112.9 million and an average price of $90.50. At quarter-end, $565.1 million remained available in the current share repurchase authorizations, including the additional $500 million authorized by the Board of Directors during the second quarter.
Conference Call Webcast
Hasbro will webcast its second quarter 2018 earnings conference call at 8:30 a.m. Eastern Time today. To listen to the live webcast and access the accompanying presentation slides, please go to http://investor.hasbro.com. The replay of the call will be available on Hasbro’s web site approximately 2 hours following completion of the call.
About Hasbro: Hasbro (NASDAQ: HAS) is a global play and entertainment company committed to Creating the World's Best Play Experiences. From toys and games to television, movies, digital gaming and consumer products, Hasbro offers a variety of ways for audiences to experience its iconic brands, including NERF, MY LITTLE PONY, TRANSFORMERS, PLAY-DOH, MONOPOLY, BABY ALIVE and MAGIC: THE GATHERING, as well as premier partner brands. Through its entertainment labels, Allspark Pictures and Allspark Animation, the Company is building its brands globally through great storytelling and content on all screens. Hasbro is committed to making the world a better place for children and their families through corporate social responsibility and philanthropy. Hasbro ranked No. 1 on the 2017 100 Best Corporate Citizens list by CR Magazine and has been named one of the World’s Most Ethical Companies® by Ethisphere Institute for the past seven years. Learn more at www.hasbro.com and follow us on Twitter (@Hasbro & @HasbroNews) and Instagram (@Hasbro).
© 2018 Hasbro, Inc. All Rights Reserved.
Certain statements in this release contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include expectations concerning the Company’s potential performance in the future and the Company’s ability to achieve its financial and business goals and may be identified by the use of forward-looking words or phrases. The Company's actual actions or results may differ materially from those expected or anticipated in the forward-looking statements due to both known and unknown risks and uncertainties. Specific factors that might cause such a difference include, but are not limited to: (i) the Company's ability to design, develop, produce, manufacture, source and ship products on a timely and cost-effective basis, as well as interest in and purchase of those products by retail customers and consumers in quantities and at prices that will be sufficient to recover the Company’s costs and earn a profit; (ii) downturns in economic conditions impacting one or more of the markets in which the Company sells products, such as the economic downturns which impacted the United Kingdom and Brazil in 2017, which can negatively impact the Company’s retail customers and consumers, and which can result in lower employment levels, lower consumer disposable income, lower retailer inventories and lower spending, including lower spending on purchases of the Company’s products; (iii) other factors which can lower discretionary consumer spending, such as higher costs for fuel and food, drops in the value of homes or other consumer assets, and high levels of consumer debt; (iv) consumer interest in entertainment properties, such as motion pictures, for which the Company is developing and marketing products, and the ability to drive sales of products associated with such entertainment properties; (v) potential difficulties or delays the Company may experience in implementing cost savings and efficiency enhancing initiatives; (vi) other economic and public health conditions or regulatory changes in the markets in which the Company and its customers and suppliers operate which could create delays or increase the Company’s costs, such as higher commodity prices, labor costs or transportation costs, or outbreaks of disease; (vii) currency fluctuations, including movements in foreign exchange rates, which can lower the Company’s net revenues and earnings, and significantly impact the Company’s costs; (viii) the concentration of the Company's customers, potentially increasing the negative impact to the Company of difficulties experienced by any of the Company’s customers or changes in their purchasing or selling patterns; (ix) consumer interest in and acceptance of the Discovery Family Channel, and programming created by Hasbro Studios, and other factors impacting the financial performance of the network and Hasbro Studios; (x) the inventory policies of the Company’s retail customers, including retailers’ potential decisions to lower their inventories, even if it results in lost sales, as well as the concentration of the Company's revenues in the second half and fourth quarter of the year, which coupled with reliance by retailers on quick response inventory management techniques increases the risk of underproduction of popular items, overproduction of less popular items and failure to achieve compressed shipping schedules; (xi) delays, increased costs or difficulties associated with any of our or our partners’ planned digital applications or media initiatives; (xii) work disruptions, which may impact the Company's ability to manufacture or deliver product in a timely and cost-effective manner; (xiii) the bankruptcy or other lack of success of one of the Company's significant retailers, such as the bankruptcy of Toys“R”Us in the United States and Canada in the fourth quarter of 2017 and the beginning of liquidation of those businesses, as well as economic difficulty of Toys“R”Us in other markets, which could negatively impact the Company's revenues or bad debt exposure; (xiv) the impact of competition on revenues, margins and other aspects of the Company's business, including the ability to offer Company products which consumers choose to buy instead of competitive products, the ability to secure, maintain and renew popular licenses and the ability to attract and retain talented employees; (xv) concentration of manufacturing for many of the Company’s products in the People’s Republic of China and the associated impact to the Company of social, economic or public health conditions and other factors affecting China, the movement of products into and out of China, the cost of producing products in China and exporting them to other countries, including without limitation, the potential application of tariffs to products the Company purchases from vendors in China, which would significantly increase the price of the Company’s products and harm sales; (xvi) the risk of product recalls or product liability suits and costs associated with product safety regulations; (xvii) the impact of other market conditions, third party actions or approvals and competition which could reduce demand for the Company’s products or delay or increase the cost of implementation of the Company's programs or alter the Company's actions and reduce actual results; (xviii) changes in tax laws or regulations, or the interpretation and application of such laws and regulations, such as what may occur as the U.S. Tax Cuts and Jobs Act is interpreted and applied, which may cause the Company to alter tax reserves or make other changes which significantly impact its reported financial results; (xix) the impact of litigation or arbitration decisions or settlement actions; and (xx) other risks and uncertainties as may be detailed from time to time in the Company's public announcements and Securities and Exchange Commission (“SEC”) filings. The Company undertakes no obligation to make any revisions to the forward-looking statements contained in this release or to update them to reflect events or circumstances occurring after the date of this release.
The financial tables accompanying this press release include non-GAAP financial measures as defined under SEC rules, specifically Adjusted net earnings and Adjusted earnings per diluted share, excluding the impact of charges associated with the Toys“R”Us liquidation; severance costs and U.S. tax reform in the first quarter of 2018, as well as Adjusted operating profit absent the impact of the charges associated with the Toys“R”Us liquidation and severance costs. Also included in the financial tables are the non-GAAP financial measures of EBITDA and Adjusted EBITDA. EBITDA represents net earnings attributable to Hasbro, Inc. excluding interest expense, income taxes, depreciation and amortization. Adjusted EBITDA also excludes the impact of charges associated with the Toys“R”Us liquidation and severance costs in the first quarter of 2018. As required by SEC rules, we have provided reconciliations on the attached schedules of these measures to the most directly comparable GAAP measure. Management believes that Adjusted net earnings, Adjusted earnings per diluted share and Adjusted operating profit absent the impact of charges associated with the Toys“R”Us liquidation and severance costs in the first quarter of 2018 provides investors with an understanding of the underlying performance of the Company’s business absent these unusual events. Management believes that EBITDA and Adjusted EBITDA are appropriate measures for evaluating the operating performance of the Company because they reflect the resources available for strategic opportunities including, among others, to invest in the business, strengthen the balance sheet and make strategic acquisitions. These non-GAAP measures should be considered in addition to, not as a substitute for, or superior to, net earnings or other measures of financial performance prepared in accordance with GAAP as more fully discussed in the Company's financial statements and filings with the SEC. As used herein, "GAAP" refers to accounting principles generally accepted in the United States of America.
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