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Hasbro Sees Spiking Demand as Family Time Jumps

By Demitri Kalogeropoulos - Mar 23, 2020 at 9:25AM

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The toys and games giant's manufacturing base in China is also back to operating at full speed.

Social distancing efforts are lifting Hasbro's (HAS 0.04%) business. CEO Brian Goldner said in an interview with CNBC on Monday that consumers in many markets are snapping up its products as families look for ways to stay entertained at home.

"We're seeing great demand," Goldner said, including for brands like Play-Doh and Magic: The Gathering. People are especially interested in products that help keep children occupied, entertained, and educated, he explained. "Our first quarter has been quite good."

A family playing a board game.

Image source: Getty Images.

Hasbro is also seeing positive trends coming out of China, which plays a key role in its supply chain. Nearly all of its factories are back online and sales in that country are rebounding as the COVID-19 outbreak subsides.

Financially, Goldner said the company is under no real stress from the current coronavirus crisis, with plenty of resources and ample cash flow to continue paying its employees and its dividend.

The company has no plans to make layoffs at the moment, Goldner said, especially considering the strong demand that Hasbro is seeing across its catalog of toys and games. Investors will get more details about these operating and financial trends when the company announces its first-quarter results in late April.

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