Transformers Company News on Seibertron.com

Got Transformers News? Let us know here!
Category:
Year:
Keyword(s):

Exclude news from our sponsors

Goto Page: 1, 2, 3 ... 155, 156, 157  >>
1,563 total news articles in this section, 10 per page.

All Australian Toys R Us Stores To Close Soon

Transformers News: All Australian Toys R Us Stores To Close Soon
Date: Wednesday, June 20th 2018 4:24am CDT
Categories: Company News, Store News
Posted by: Qwan | Credit(s): SBS News

Discuss This Topic · Permanent Link
Views: 5,544

Just when you though it was safe to go back in the toy store... Following on from last month's development where Toys R Us Australia entered administration and was looking for an urgent sale, it would appear that the company was unable to find any such thing and will soon be shutting down entirely.

According to SBS News, all potential buyers have pulled out and the failing company has no other choice at this point. Many of the previous statements applicable to consumers still stand, but now with an ending date. Items of note include:

    - Gift cards and vouchers continue to be accepted, as long as customers spend an additional equivalent amount (i.e. to redeem a $50 gift card, a customer would need to purchase $100 worth of product). This will be true up until July 5th.
    - Online orders will be delivered, provided the order has been fully paid for and the stock is available. The online ordering system will be closing June 22nd.
    - Lay-bys will be honoured until July 5th.
    - Workers are expected to "receive all their entitlements from the proceeds of the liquidation and asset sales".
Aside from the closure itself, the big (if expected) news for collectors is that the company's stock will be liquidated through Toys R Us stores. This, hopefully, means upcoming sales, which is perhaps the biggest silver lining to this stormcloud of a story.

Toys R Us Australia is expected to shut down entirely "in the coming weeks", but there's no word yet on when exactly that will be. Rest assured we'll let you know once that information is shared. For now check out our story on Toys R Us Canada's success if you want a more optimistic spin, and as always, share your feelings on this development in the Energon Pub forums. And of course, keep an eye on Seibertron.com for all future updates to this ongoing saga.

Transformers News: All Australian Toys R Us Stores To Close Soon

Toys R Us Canada is Here to Stay and Celebrating This With Special Events and Free Giftcards

Transformers News: Toys R Us Canada is Here to Stay and Celebrating This With Special Events and Free Giftcards
Date: Sunday, June 3rd 2018 1:22pm CDT
Categories: People News, Company News
Posted by: william-james88 | Credit(s): Toysrus Canada

Discuss This Topic · Permanent Link
Views: 8,758

We knew that Fairfax Financial had won the bidding for Toysrus Canada and now all the documents have been signed and Toysrus Canada is now fully owned by Fairfax. The later being a Canadian company means that Toysrus Canada is now 100% Canadian with no ties to the US, which is quite a twist since it started as a subsidiary of what was once a prominent American business. Now, simply due to the fact that competition was limited in Canada for toys of any kind (with a tough barrier of entry for any potential competition due to Canada's ridiculously low population density), Toysrus Canada has always been profitable. But all along, its earnings were going to the US parent so there was no chance for reinvesting in the Canadian business. But that is over now, so we can simply imagine how this company which was already great will now have an influx of cash for reinvesting and improving.

Toysrus Canada aims to reinforce the fact that they are sticking around and to do so, they are offering events every week-end in June with free 5$ giftcards to anyone who shows up, along with free gifts like lego kits you can build in the store and take home with you. Plus, if kids bring in their report card on the last Saturday of June, they get a gift.

These are all shown in the image below and more details can be found here.

Transformers News: Toys R Us Canada Here to Stay and Celebrating This With Special Events and Free Giftcards

Along with that, we have a message from the Toysrus Canada president, Melanie Teed-Murch, about Toysrus Canada beig here to stay followed by a statement from Prem Watsa, CEO of Fairfax, which gives a quick look at the business figures that went into his company's decision to buy Toysrus. However, all this joy on the Canadian side is inverted when looking at the US where the Toysrus head office is also being cleared with everything on sale, including Geoffrey

Transformers News: Toys R Us Canada Here to Stay and Celebrating This With Special Events and Free Giftcards

Message from Toysrus Canada President:

TORONTO (June 1, 2018) – Toys "R" Us (Canada) Ltd. announces the completion of the previously announced acquisition of its business by Fairfax Financial Holdings Limited. As a result of the acquisition, Toys R Us Canada is now a proudly Canadian-owned and operated business employing more than 4,000 Canadians and Canada’s only exclusive coast to coast business with over 80 locations dedicated to kids and babies across Canada.

“As Canada’s leading toy and baby retailer, we are thrilled to be part of the Fairfax family and to now operate as a reinvigorated company that is 100% Canadian,” said Melanie Teed-Murch, President of Toys "R" Us and Babies "R" Us Canada. “I would like to extend a heartfelt thank you to our customers for their loyalty and for choosing to shop at Toys “R” Us and Babies “R” Us. We are passionate about our business and want Canadians to know that we are champions of play with the newest trends and hottest toys in our stores. We believe that parenting is an adventure and Babies “R” Us Canada will be there along the journey to help parents. We are also excited about our future and look forward to inviting customers back to see what’s new in store.”

This summer, Toys “R” Us will be moving full steam ahead in getting the message to Canadians that we’re here to play, here to stay! “We will be challenging kids, parents, grand-givers and kids at heart to embrace the power of play. At Toys “R” Us, we believe that moments of joy, endless possibilities of fun and the wonder of imagination all happen through play,” said Teed-Murch.

The company also remains committed to its philanthropic initiatives and its support of communities across Canada. Each year, the company raises nearly $2 million to support its partners through the generous support of its customers and team members. Beginning this month, Toys “R” Us will host 10 Starlight Dashes across Canada in which seriously ill children from the Starlight Children’s Foundation will have three minutes to race around the store and fill their carts with toys.

All customer programs like Baby Registry, “R”Club™ loyalty and wish list are running just as customers know and love. Gift cards purchased in Canada can be redeemed anytime online and in any store location across the country. In the coming months, the company will roll out exciting new innovations that have proven successful at recently opened stores in Langley, British Columbia and Barrie, Ontario. This format includes dedicated play areas, interactive stations for kids and mobile pay. The evolving omnichannel strategy connects customers wherever, whenever and however they want through our webstore, mobile and store shopping experience.

Visit www.toysrus.ca and www.babiesrus.ca for exciting announcements and new events happening throughout the summer.


Statement from Fairfax CEO:

“Toys “R” Us has a 34-year track record of standalone profitability in Canada (over the last three years, revenue has exceeded C$1 billion annually and, for the last nine years, EBITDA has exceeded C$100 million annually). With over two decades working in Canada for Toys “R” Us, Melanie has the experience necessary to lead the dedicated employees of Toys “R” Us for the benefit of all stakeholders, kids, families and communities across Canada,” said Prem Watsa, Chairman and CEO of Fairfax. “We look forward to building for the long-term and allowing the Toys “R” Us team in Canada to re-invest in the business, instead of the past history of just sending earnings to the U.S.”

Toys R Us Australia Cancels Transformers Masterpiece MP-34S Shadow Panther

Transformers News: Toys R Us Australia Cancels Transformers Masterpiece MP-34S Shadow Panther
Date: Thursday, May 31st 2018 11:42pm CDT
Categories: Toy News, Company News
Posted by: Va'al | Credit(s): OzFormers

Discuss This Topic · Permanent Link
Views: 15,112

We have some unfortunate pieces of news for Transformers fans in Australia, specifically about the Takara Tomy Masterpiece MP-34S Shadow Panther and its initially reported availability at the Toys R Us chain stores across the country: user Millhouse over on OzFormers has shared an email from the company now stating that they will not be fulfilling the orders for the figure, as they no longer carry it for a number of reasons, stated below, and are only offering store credit, not refunds.

We regret to inform you that unfortunately we are not able to fulfil your Toys R Us Online Order for the following product, due to insufficient stock levels.
- Transformers Takara Tomy MP-34S Shadow Panther

Toys “R” Us Australia have recently entered voluntary administration; therefore, a refund cannot be processed.

Please go to this link to read our full administration information: https://www.toysrus.com.au/administrati ... tion-2018/

We can however, offer for you to choose other items to the same value, on our website www.toysrus.com.au and we will process this at no further charge to you.

We can also provide your details to our creditors, who will contact you with a proof of debt form request.

The other alternative is to lodge a dispute with your bank for the amount charged on your credit card for this transaction.
You will more than likely get your money back for the order we are unable to fulfil.

We understand your frustrations with this matter and sincerely do apologise for any inconvenience caused.

Should you have any concerns regarding this matter, please do not hesitate to contact us on 1300 8697 787.


This is, unfortunately, part of the bigger news that TRU Australia is also going into administration, as we first reported here. And if you're in for bad news, we also have final confirmation of the tax changes brought about by government, meaning that Amazon will no longer be shipping to Australia as of July 1st. Read more about it thanks to Burn over in the Australian Sightings thread.


Transformers News: Toys R Us Australia Cancels Transformers Masterpiece MP-34S Shadow Panther

Hasbro Licenses Transformers and MLP to United Colors of Benetton

Transformers News: Hasbro Licenses Transformers and MLP to United Colors of Benetton
Date: Sunday, May 27th 2018 3:19pm CDT
Categories: Company News, Collectables
Posted by: Va'al | Credit(s): Licensing Source

Discuss This Topic · Permanent Link
Views: 10,455

More news of Transformers themes to be found in fashion, thanks to a previously overlooked result of the Licensing Expo 2018 event that took place earlier this month - and courtesy of a Licensing Source article for the actual details of the agreement between license holder Hasbro and the licensee: United Colors of Benetton.

According to the piece, we're to see more Transformers clothing and accessories with Benetton as of late 2018 all into 2019, along with My Little Pony, in both their infant and children's lines. No images are available as of the time of writing, but we will update as soon as we know more!

Hasbro has inked a multi-year deal with global fashion retailer United Colors of Benetton Group for a range of apparel and accessories.

The first items will launch later this year in the retailer’s autumn/winter 2018 line-up.

The ranges include My Little Pony infants’ and kids’ collections, plus Transformers infants’ and kid’s collections.

[...]

The Hasbro collection will be available to buy online and at United Colors of Benetton’s 5,000 stores in 120 countries.


Transformers News: Hasbro Licenses Transformers and MLP to United Colors of Benetton

Paramount Officially Removes Seventh Transformers Live Action Film From Schedule

Transformers News: Paramount Officially Removes Seventh Transformers Live Action Film From Schedule
Date: Thursday, May 24th 2018 3:02am CDT
Categories: Movie Related News, Company News
Posted by: Va'al | Credit(s): Deadline, Collider

Discuss This Topic · Permanent Link
Views: 14,562

The first story we posted on this topic dates back to February, just before Toy Fair, as a Hasbro call reported a Paramount and Hasbro project due in 2019, but nothing specific to Transformers after the release of Bumblebee in December 2018.

A slide was shown with all Hasbro produced films slated to appear until 2021 with Bumblebee in the forefront and then GI Joe in 2020, Micronauts in 2020, Dungeons and Dragons in 2021 along with an unnamed Paramount/Hasbro film in 2021. Notice the total absence of he previously revealed Transformers VII movie.


Transformers News: Paramount Officially Removes Seventh Transformers Live Action Film From Schedule


According to a number of sources, such Collider and The Wrap, we now have official confirmation from Paramount directly that there will indeed be no further Transformers live-action movies in the coming years - until the alleged reboot takes place, that is - once Bumblebee is out. According to [url]Deadline[/url], the latter will in fact shape the reboot, as many hints have been leading towards in previous stories and updates. Let us know what you think in the Energon Pub!

In addition, the Melrose lot has undated Transformers 7 from its previous date of June 28, 2019. In its place, Paramount will release the Tiffany Haddish comedy Limited Partners on that date. Paramount had hatched a writers room led by Akiva Goldsman to hammer out future iterations of Transformers movies. The spinoff Bumblebee, whose clips were well received at CinemaCon, comes out on Dececmber 21 directed by Travis Knight. Michael Bay has hinted that Transformers: The Last Knight was his final stint in the director’s chair for a Transformers movie. Transformers 7 was put in as a placeholder on the calendar years ago, and the studio is rebooting the entire franchise in the direction of Bumblebee.


It’s official, Paramount is pulling the plug on Transformers 7. The studio has dropped the so-called Transformers 7 (apparently, Bumblebee is considered “Transformers 6”) from their release date schedule. The film was previously slated to arrive in theaters on June 28, 2019. Bumblebee, the spinoff film helmed by LAIKA boss and Kubo and the Two Strings director Travis Knight, is still scheduled for December 21, 2018.

Toys R Us Australia Enters Administration

Transformers News: Toys R Us Australia Enters Administration
Date: Monday, May 21st 2018 6:05am CDT
Category: Company News
Posted by: Qwan | Credit(s): Financial Review

Discuss This Topic · Permanent Link
Views: 9,321

Yes, it's back again folks. The Toys R Us saga continues, this time in Australia as the company's branch in that country enters voluntary administration. Last we heard, Australian Toys R Us stores would be continuing as normal despite the US branch shutting down, and up until now they've been chugging along, but it seems that's about to change.

According to the Financial Review, TRU Australia had been looking for a buyer, but the last bidder has recently withdrawn their offer and directors have chosen to enter voluntary administration by the firm McGrathNicol. This is how the Financial Review describes the Australian branch's dire financial straits:

[...] the Australian business has racked up losses of more than $100 million over the last seven years and could not continue as a stand alone entity.

Toys 'R' Us Australia lost $7.6 million in 2017 on sales of $276.4 million and had net liabilities of $6 million, according to its latest accounts.

For those Australian collectors wondering how this will affect purchasing from Toys R Us in the coming times, here's the rundown on what he have so far.

    - Both Toys R Us and Babies R Us should continue operating while McGrathNicol "urgently explores options for a sale".
    - Refunds will no longer be offered on sold items
    - Gift cards and vouchers will be honoured, as long as customers spend an additional equivalent amount (i.e. to redeem a $50 gift card, a customer would need to purchase $100 worth of product).
    - Online orders will be delivered, provided the order has been fully paid for and the stock is available.
This is definitely sad news to hear, but we still want to hear your thoughts on it. How do you think this might affect the collecting climate in the future? Let us know on the Energon Pub Forums, and keep an eye on Seibertron.com for updates on this or any other Transformers-related news.

Transformers News: Toys R Us Australia Enters Administration

Hasbro Acquires the Power Rangers Brand for $522 Million

Transformers News: Hasbro Acquires the Power Rangers Brand for $522 Million
Date: Tuesday, May 1st 2018 9:22pm CDT
Categories: Press Releases, Company News
Posted by: william-james88 | Credit(s): Hasbro

Discuss This Topic · Permanent Link
Views: 12,788

As of today, Transformers is no longer Hasbro's only brand of giant robots. Saban Properties has sold the Power Rangers brand to Hasbro for $522 million. While Hasbro had previously revealed to now have the licensing to make Power Rangers toys, this means that they now own the brand itself and can license it as they wish (as they do with Transformers). This goes perfectly in line with Brain Goldner's mission of turning Hasbro into an entertainment brand, owning intellectual properties, rather than simply a toy manufacturer (which the Last Jedi toyline recently showed means you cover more risks and potential losses). Other less known properties were also included in this deal like My Pet Monster, Popples, Julius Jr., Luna Petunia, Treehouse Detectives and others.

And yes, this does mean that Hasbro can now incorporate Power Rangers into their shared universe (in comics, tv, or movies) if they wish it. Who wouldn't want a Megazord/Optimus Prime team up? It will be interesting to see if assets from the Transformers brand will cross over to Power Rangers, in terms of toys. We do know that the Takara and Hasbro's Transformers designers also work on the Beyblade property, for instance, so we could be seeing some shared technology bleed into eventual Power Rangers toys.

Transformers News: Hasbro Acquires the Power Rangers Brand for $522 Million

What is truly fascinating is that this renews an association between Hasbro and Bandai. In the (now distant) past, Power Rangers toys released outside of Japan were simply the Japanese toys with perhaps differences in deco and of course the packaging. That has changed since, with the toys outside Japan being a different take on the same mecha designs found in the show (both Power Rangers and the Japanese Super Sentai shows use the same giant robot fight scenes). If you thought there were big differences between Hasbro and Takara releases, you are not prepared for how different the Japanese Super Sentai toys were from the and American Power Rangers toys.

It is still unknown just how much Hasbro will collaborate with Bandai regarding the toys, especially with the first line from Hasbro is confirmed to be a pre-existing line from Bandai Japan. They will be tackling Beast Morphers!, which will be based on the 2012 Super Sentai’s Tokumei Sentai Go-Busters line. Here is an example of the costume and mecha designs from this line which Hasbro will in turn be releasing in their own way.

Transformers News: Hasbro Acquires the Power Rangers Brand for $522 Million

Transformers News: Hasbro Acquires the Power Rangers Brand for $522 Million

Transformers News: Hasbro Acquires the Power Rangers Brand for $522 Million



Here is the press release from Hasbro themselves.

“Power Rangers is an iconic brand built on a heritage of great storytelling and merchandising with tremendous upside potential when fully executed across Hasbro’s Brand Blueprint,” said Brian Goldner, Hasbro’s chairman and chief executive officer. “Shortly after entering into our licensing arrangement, it became clear that now was the time to begin investing in unlocking Power Rangers’ full potential. We see significant opportunity for Power Rangers across our entire Brand Blueprint, including toys and games, consumer products, digital gaming and entertainment, as well as geographically throughout our global retail footprint. We couldn’t be more pleased that Haim Saban will continue in a consulting role to further guide our development of this valuable property for the next generation of Power Rangers fans.”

“25 years after launching Power Rangers, I believe the future for this brand has never been greater,” said Haim Saban, founder of Saban Brands and creator of Power Rangers. “Hasbro’s leadership in innovation, storytelling and brand stewardship make it the perfect company to further develop the global reach and appeal of the Power Rangers property. I look forward to working with Brian and the team in the years to come.”

Created by Haim Saban and launched in 1993, Mighty Morphin Power Rangers quickly became a pop culture phenomenon. Today, Power Rangers is one of the longest running kids’ live-action series in television history with nearly 900 episodes produced to date. The TV series, currently in its 25th season with Power Rangers Super Ninja Steel, and feature films, including 2017’s movie with Lionsgate, follows the adventures of a group of ordinary teens who morph into superheroes and save the world from evil. Saban’s Power Rangers currently airs in 150 markets around the world and is translated into numerous languages.

The first set of products from Hasbro will be available in spring 2019.

Transaction Details
Hasbro has previously paid Saban Brands$22.25 million pursuant to the Power Rangers master toy license agreement, announced by the parties in February of 2018, that was scheduled to begin in 2019. Those amounts are being credited against the purchase price. Under the terms of the purchase agreement, Hasbro will pay an additional $229.75 million in cash and will issue $270 million worth of Hasbro common stock for the Power Rangers brand and several other entertainment brands. The agreement includes all related intellectual property, category rights and content libraries owned by Saban Properties and its affiliates. The transaction is subject to a number of customary closing conditions, including obtaining required regulatory approvals, and is expected to close during the second quarter of 2018.

The transaction, including intangible amortization expense, is not expected to have a material impact on Hasbro’s 2018 results of operations.

J.P. Morgan Securities LLC is serving as financial advisor to Hasbro.

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.

About Saban’s Power Rangers

Saban’s Power Rangers franchise is the brainchild of Haim Saban, creator and producer of the original, Mighty Morphin Power Rangers hit series that launched in 1993. Following its introduction, “Power Rangers” quickly became the most-watched television program in the United States and remains one of the top-rated and longest running kids live-action series in television history. The series, currently in its 25thseason, follows the adventures of a group of ordinary teens who morph into superheroes and save the world from evil. It is seen in more than 150 markets, translated into numerous languages and a favorite on many key international children’s programming blocks around the world. For more information, visit www.powerrangers.com.

About Saban Brands

Formed in 2010 as an affiliate of Saban Capital Group, Saban Brands acquires, develops and manages a world-class portfolio of entertainment properties. Saban Brands applies a global 360-degree management approach to growing and monetizing its brands through content, digital, marketing, distribution, licensing and retail in markets worldwide. Saban Brands’ growing entertainment portfolio of brands includes Power Rangers, Treehouse Detectives, Julius Jr., Popples, Glitter Force, and Cirque du Soleil Junior – Luna Petunia, amongst many others. Saban Brands is headquartered in Los Angeles with a global network of offices. For more information, visit www.sabanbrands.com.

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 Hasbro’s potential performance in the future, its ability to achieve its financial and business goals and the expected timing for closing this transaction and may be identified by the use of forward-looking words or phrases. Hasbro'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 successfully develop and commercialize the brands it is acquiring, (ii) the ability to receive required regulatory approvals in a timely manner, and (iii) 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. Hasbro 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.

IDW Publishing Names John Barber As New Editor in Chief

Transformers News: IDW Publishing Names John Barber As New Editor in Chief
Date: Monday, April 30th 2018 12:50pm CDT
Categories: Comic Book News, People News, Company News
Posted by: Va'al | Credit(s): THR

Discuss This Topic · Permanent Link
Views: 13,389

You'll remember the story we covered about IDW Publishing's Chris Ryall stepping down, and then moving to Skybound Press - according to The Hollywood Reporter, we now have news of a replacement, and a familiar name at that for readers of the Transformers comics: John Barber has been promoted to Editor in Chief of IDW!

Read on below for more details on the news, including the other addition at the publisher of Anita Frazier in Senior VP of sales and marketing, and let us know your thoughts in the Energon Pub discussion boards!

Weeks after Chris Ryall stepped down from the position, Heat Vision has learned that John Barber has been named editor in chief of San Diego-based comic company IDW Publishing. His appointment coincides with the news that Anita Frazier has joined the publisher as senior vice president of sales and marketing.

[...]

Barber, previously group editor of Hasbro properties at IDW, entered the comic book industry as a self-published creator in the late 1990s, before joining Marvel editorial in 2004, working on the Ultimate Comics imprint as well as Marvel’s X-Men line and the first Dark Tower comic books. He joined IDW as a writer for its Transformers line before becoming a senior editor at the company, a position he eventually left in favor of freelance writing, working on IDW’s Transformers vs. G.I. Joe and Back to the Future titles in addition to a number of titles for Marvel.

“To me, the title of editor in chief has a resonance — and a legacy — in comics,” Barber told Heat Vision. “It's something to live up to, a position I find pretty inspiring. So I don't know if I can really express my excitement at being back at IDW in this new role. As editor in chief, I'm in a position to help guide the company into a new era, working with our creators and our partners to make the best comics out there. IDW has some of the biggest and most fun properties in pop culture under our publishing umbrella, and I think some of the stuff we already have planned for the future will spin some heads. The comics world is constantly changing, and IDW's always changed with the times — keeping its core values and looking toward tomorrow. And being right in the thick of that is just where I want to be.”


Transformers News: IDW Publishing Names John Barber As New Editor in Chief

Toys R Us Canada Has Been Sold

Transformers News: Toys R Us Canada Has Been Sold
Date: Monday, April 23rd 2018 11:00pm CDT
Category: Company News
Posted by: william-james88 | Credit(s): https://cases.primeclerk.com/toysrus/Home-DocketInfo

Discuss This Topic · Permanent Link
Views: 9,855

It seems like there is more and more good news for Toysrus and collectors worldwide. European divisions are being purchased by a beloved family toy store chain, the Asian division is getting Billion dollar offers, Grotusque is finally being found in US stores and now Toysrus Canada finally has a buyer.

There was to be an auction this month and the 19 $B holdings firm, Fairfax Financial, had made the inaugural bid of $300M, ensuring that the Canadian division would not be sold for less. As it turns out, no other bid was accepted so Fairfax Financial has become the owner. For those unaware, Fairfax is a Toronto based firm founded by Prem Watsa, who is often referred to as Canada's Warren Buffet. He is also the current CEO. Like Buffet's Berkshire Hathaway, many of their holdings are value based but they seem to be more concentrated on insurance, aquiring insurance companies based around the globe (the head office in Toronto only houses 30 of its 8,200 employees). They have a habit of buying companies on the verge of bankruptcy at a good but fair price, which is something they previously did with Blackberry and Carillion Canada (an infrastucture service company).

The Fairfax name itself is a portemanteu for "fair, friendly acquisitions" and this is evident in its bid for Toysrus Canada which was higher (and thus more fair) than what toy mogul Isaac Larian had previously bid. In the end, this is great news for fans who liked how things were so far in Canada. Toysrus being bought by a holdings firm (which is only seeking diversification in its portfolio) simply means that they see value in the company and thus everything points to business as usual as far as Canadian stores are concerned.

So hopefully that means Canadian fans can still expect to see shelves like this once in a while.

Transformers News: Toysrus Canada Has Been Sold

Hasbro Reports First Quarter 2018 Financial Results

Transformers News: Hasbro Reports First Quarter 2018 Financial Results
Date: Monday, April 23rd 2018 7:59am CDT
Categories: Press Releases, Company News
Posted by: Va'al | Credit(s): Hasbro

Discuss This Topic · Permanent Link
Views: 7,989

We received from Hasbro their report for the first quarter of 2018, regarding the company's faring during the Toys R Us troubles, and everything else taking place since the start of this financial year. The full text of the release can be found below, but if you're also interested in additional numbers, you can take a look here.

  • First quarter 2018 revenues decreased to $716.3 million due to the liquidation of Toys“R”Us and retail inventory overhang, primarily in Europe;
  • Reported net loss of $112.5 million or $0.90 per diluted share, includes after-tax expenses of $61.4 million associated with Toys“R”Us; $15.7 million of severance costs associated with an acceleration of the Company’s ongoing commercial organization transformation; and a net charge of $47.8 million related to U.S. tax reform (the “Non-GAAP Adjustments”);
  • Adjusted net earnings of $12.4 million or $0.10 per diluted share;
  • Ended the quarter with $1.6 billion in cash and returned $109.6 million to shareholders; $70.8 million in dividends and $38.8 million in share repurchases.

PAWTUCKET, R.I.--(BUSINESS WIRE)--Apr. 23, 2018-- Hasbro, Inc. (NASDAQ: HAS) today reported financial results for the first quarter 2018. Net revenues for the first quarter 2018 decreased 16% to $716.3 million versus $849.7 million in 2017. The decrease in revenues is the result of the liquidation of Toys“R”Us in the U.S. and U.K., along with uncertainty in its other operations, as well as retail inventory overhang, primarily in Europe.

Net loss for the first quarter 2018 was $112.5 million, or $0.90 per diluted share, compared to net earnings of $68.6 million, or $0.54 per diluted share, in 2017. Excluding the Non-GAAP Adjustments noted above, adjusted net earnings for the quarter were $12.4 million or $0.10 per diluted share. The first quarter 2018 was a 13-week period versus the first quarter 2017 which was a 14-week period.

“The Hasbro teams executed extremely well during a challenging first quarter,” said Brian Goldner, Hasbro’s chairman and chief executive officer. “Hasbro brands are resonating with consumers and consumer takeaway is positive. However, as we discussed earlier in the year, our first quarter was expected to be difficult. We are working to put the near-term disruption from Toys“R”Us behind us. Our global retailers view this as an opportunity in a key consumer category and are partnering with Hasbro to develop growth plans for our brands. New Hasbro initiatives shipping in this quarter and beyond won’t be caught up in the Toys“R”Us liquidation process. With the rapid shift to a converged retail environment, we accelerated plans we originally had spread throughout the year to transform our commercial organization on a more immediate basis.”

“Our underlying financial strength is sound, and despite the near-term challenges associated with a major customer liquidation, Hasbro is positioned to manage a challenging 2018 and drive growth in 2019 and beyond,” said Deborah Thomas, Hasbro’s chief financial officer. “The quarter’s revenue and profits were negatively impacted by lower revenues and higher expenses associated with events that do not reflect the health of our underlying business. We remain on track to meet our goal of generating $600 to $700 million in operating cash flow this year while investing to build our brands, transform our organization and return cash to shareholders.”

First Quarter 2018 Major Segment Performance



Net Revenues
($ Millions)


Operating Profit (Loss)
($ Millions)


Adjusted Operating
Profit (Loss) ($M)
Q1 2018 Q1 2017 % Change Q1 2018 Q1 2017 Q1 2018
U.S. and Canada $364.3 $451.6 -19% $(23.4) $64.8 $28.9
International $287.9 $345.3 -17% $(56.1) $0.5 $(44.9)
Entertainment and Licensing $64.0 $52.7 +21% $13.9 $11.3 $13.9


First quarter 2018 U.S. and Canada segment net revenues decreased 19% to $364.3 million compared to $451.6 million in 2017. The segment reported an operating loss of $23.4 million compared to an operating profit of $64.8 million in 2017. The segment’s first quarter performance reflected the Toys“R”Us liquidation both in lower revenues and $52.3 million of pre-tax expenses, primarily bad debt.

First quarter 2018 International segment net revenues were $287.9 million compared to $345.3 million in 2017. Revenues in the segment were negatively impacted by efforts to clear excess inventory in Europe, as well as the Toys“R”Us U.K. liquidation and uncertainty in its other international operations. International segment revenues include a favorable $19.5 million impact of foreign exchange. On a regional basis, Europe net revenues decreased 28%, Latin America increased 2% and Asia Pacific increased 3%. Emerging markets net revenues decreased 5% in the quarter. The International segment reported an operating loss of $56.1 million compared to an operating profit of $0.5 million in 2017. The decline in operating profit reflects lower revenues and includes $11.2 million of pre-tax expense associated with Toys“R”Us.

Entertainment and Licensing segment net revenues increased 21% to $64.0 million compared to $52.7 million in 2017. Operating profit increased 23% to $13.9 million, or 21.7% of net revenues, compared to $11.3 million, or 21.5% of net revenues, in 2017. Revenue growth was driven by consumer products and digital gaming. During the quarter, the Company adopted ASC 606 Revenue from Contracts with Customers which favorably impacted the timing of revenue recognition in the quarter.

Additional pre-tax expense of $7.0 million associated with Toys“R”Us and $17.3 million from accelerating the commercial organization transformation are included in the Corporate and Eliminations segment.

First Quarter 2018 Brand Portfolio Performance

Net Revenues ($ Millions)
Q1 2018 Q1 2017 % Change
Franchise Brands $361.7 $449.2 -19%
Partner Brands $200.6 $213.0 -6%
Hasbro Gaming* $105.2 $135.8 -22%
Emerging Brands $48.8 $51.8 -6%

*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 $203.5 million for the first quarter 2018, down 20%, versus $253.3 million for the first quarter 2017. Hasbro believes its gaming portfolio is a competitive differentiator and views it in its entirety.

First quarter 2018 revenues were negatively impacted across all Brand Portfolio categories by the liquidation of Toys“R”Us in the U.S. and U.K., along with uncertainty in its other operations, as well as retail inventory overhang, primarily in Europe.

First quarter 2018 Franchise Brand revenues decreased 19% to $361.7 million. Growth in MONOPOLY was offset by declines in all other Franchise Brands in the quarter. 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 6% to $200.6 million. Revenue growth in MARVEL and BEYBLADE was more than offset by declines in other Partner Brands. Partner Brand revenues increased slightly in the U.S. and Canada segment, but declined in the International segment.

Hasbro Gaming revenue decreased 22% to $105.2 million. Revenue gains in DUNGEONS AND DRAGONS, JENGA and several new game launches were offset by declines in other properties. Hasbro’s total gaming category was down 20% to $203.5 million. Hasbro Gaming revenues declined in all three major operating segments.

Emerging Brands revenue declined 6% to $48.8 million. Revenue increases from STRETCH ARMSTRONG and LITTLEST PET SHOP products were offset by declines in other Emerging Brands. Emerging Brands revenues grew in the Entertainment and Licensing segment and declined in the U.S. and Canada and International segments.

Dividend and Share Repurchase

The Company paid $70.8 million in cash dividends to shareholders during the first quarter 2018. The next quarterly cash dividend payment of $0.63 per common share is scheduled for May 15, 2018 to shareholders of record at the close of business on May 1, 2018.

During the first quarter, Hasbro repurchased 427.1 thousand shares of common stock at a total cost of $38.8 million and an average price of $90.81 per share. At quarter-end, $139.2 million remained available in the current share repurchase authorization.

Non-GAAP Adjustments

During the first quarter, the Company recorded lower revenues in part due to the loss of revenues from Toys“R”Us in the U.S. and Europe, as a result of the related liquidations as well as uncertainty in the other Toys“R”Us operations. In association with this, the Company recorded after-tax expenses of $61.4 million, primarily bad debt.

Hasbro also recorded $15.7 million of after tax expense associated with accelerating its commercial organization transformation. Over the past several years, the Company has invested in developing an omni-channel retail presence, and in 2018 is bringing onboard new skill sets and talent to lead in today’s converged retail environment. These actions were initially planned to occur over time, commencing later this year. Given the current retail environment the Company chose to accelerate its actions.

In 2017, the Company recognized a provisional net charge of $296.5 million from the U.S. Tax Cuts and Jobs Act. Additional changes and guidance issued since year end resulted in a first quarter 2018 charge of $47.8 million, or $0.38 per diluted share. This charge is related to an increase in the Company’s repatriation tax liability and a reversal of tax benefits no longer permitted under the new guidance. The Company expects its full-year underlying tax rate to be at the high end of its previously projected range of 15% to 17%.

Conference Call Webcast

Hasbro will webcast its first 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.

This press release includes 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 attached to this release 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 reconciliation on the attached schedule 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.

HAS-E

Goto Page: 1, 2, 3 ... 155, 156, 157  >>
1,563 total news articles in this section, 10 per page.

Most Popular Transformers News

Most Recent Transformers News

Transformers products from AMAZON

Featured Products

Buy "Transformers Masterpiece MP-21 Bumble Figure" on AMAZON
You save: 41%
Transformers Podcast: Twincast / Podcast #201 - Sweet Boy
Twincast / Podcast #201:
"Sweet Boy"
MP3 · iTunes · RSS · View · Discuss · Ask
Posted: Sunday, June 10th, 2018
Transformers products from EBAY

Items Ending Soon