Hasbro 3Q13 Earnings Call Notes

posted in: Notes | 0

This post is part of a series of posts called “Company Notes.” These posts contain quotes and exhibits from earnings calls, conference presentations, analyst days and SEC filings. The quotes are generally pieces of information that I find interesting or helpful to understanding the company, industry or economy and are not meant to provide summaries of the full content of the call. Other posts in this series can be found by clicking here. Full transcripts can be found at Seeking Alpha.

“Over the past several years, we’ve made significant investments in our global infrastructure. And Hasbro is delivering above-average growth in the emerging markets. In addition, revenues grew in several developed markets, including France, Spain, Italy, Germany and Mexico. In total, Europe, Latin America and Asia-Pacific all posted revenue gains in the third quarter.

Our U.S. and Canada segment revenues were down in the quarter, given the continued difficult comparisons with 2012 revenues for the Boys category, which included 2 very strong Marvel Entertainment initiatives, the Avengers and The Amazing Spider-Man, and higher sales of Beyblade”

“Retailers remain focused on tighter inventory management.”

“we all know that we’ve — and the team has adopted a great new strategy that was about more just-in-time inventory, reducing overall inventory levels, following those brands that were selling the best, working with our retail partners to get more promotion and more impact at retail for the brands that matter the most. And we’re seeing that being born out in inventory levels declining on average over time. We feel very strongly that we have the right inventory now going into the market in the third and fourth quarter. We have a lot of new initiatives that have begun to ship that we’ve highlighted but also some additional new games that come into the fourth quarter. So we feel very good that we have the opportunity to have a great holiday season, recognizing that the backdrop is a more challenging consumer environment. But Hasbro will get more than its fair share of the holiday season because we have the innovation, the content and the strategy that is resonating with consumers.”