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Hasbro CEO Explains What's Driving The Company's Growth

Hasbro CEO Explains What's Driving The Company's Growth

Toymaker Hasbro, Inc. (NASDAQ: HAS) reported better than expected quarterly numbers on Monday morning. EPS for the second quarter came at $0.33 on revenue of $797.7 million, compared to analysts' estimates of EPS of $0.29 on revenue of $773.1 million.

Brian Goldner, Hasbro CEO, was on CNBC following the earnings declaration to weigh in on the numbers.

The Focus: Bringing People Into Immersive Experiences

"Our whole focus...has been on creating the world's best play experiences, and so across our company, we are trying to focus on telling stories and bringing people into immersive experiences," Goldner said. "So, that's true for our franchise brands.

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"We have lots of great entertainment partners, particularly the Walt Disney Company and Universal with 'Jurassic World' has come out, and we have the toys out and they are performing very well above our expectations."

Play-Doh And Nerf Make A Comeback

Goldner remarked, "One of the biggest growth stories of the quarter for us is Play-Doh, and it's growing globally."

When asked the reasons behind Play-Doh performing so well, Goldner said, "Well it's because it's all about creativity; it's about accomplishing developmental milestones. The kids love it. The team has done a great job in bringing innovation to that category. The last two years have been the biggest years in Play-Doh's 60-year history. We had great growth this past quarter.

"Nerf is another brand where there is certain amount of storytelling, but it's also about just great innovative products," Goldner concluded.

Image Credit: Public Domain


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