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Hasbro Gaming Revenue Down 12% in Fourth Quarter, Down 4% for Full Year

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Hasbro’s fourth-quarter gaming revenue declined 12% from the previous period to $788 million. The total category was down 4% for the full-year 2018 versus 2017.

Dungeons and Dragons, Don’t Step in it, Connect 4 and Jenga revenues grew, but were more than offset by declines in Pie Face, Speak Out and other gaming properties.

Hasbro overall revenue fell 13% to $1.39 billion in the fourth-quarter from $1.6 billion a year earlier. CEO Brian Goldner said 2018 was a disruptive year for Hasbro with the bankruptcy and liquidation of Toys R Us across most of the world and a rapidly shifting consumer and retail landscape.

According to Goldner, Toys R Us was Hasbro’s third-largest customer in the US and second-largest in Europe and Asia.

Hasbro reported a net income of $8.8 million, or 7 cents per share, compared with a loss of $5.3 million in 2017, due to a charge related to changes in tax laws.