# Hasbro ramps up toy supply for holiday season to beat shipping delays
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2021-07-26
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Hasbro Inc Expands Shipping Operations to Meet Holiday
Meta Description: Discover how Hasbro is overcoming supply chain challenges to meet holiday demand for Nerf blasters and Marvel action figures, and its plans for revenue growth.
URL: https://financedigest.com/hasbro-ramps-up-toy-supply-for-holiday-season-to-beat-shipping-delayshtml

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(Reuters) -Hasbro Inc is trying to get around the supply chain bottlenecks set off by the pandemic to deliver toys and boardgames for the holiday season by expanding its shipping operations and advancing its sourcing of products.

The move by the U.S. toymaker aims to cash in on the demand for Nerf blasters and action figures based on Marvel superheroes, while its television production rebounds, thanks to vaccine rollouts and [easing of restrictions](https://www.financedigest.com/europe-sees-travel-recovery-as-covid-restrictions-ease.html "Europe sees travel recovery as COVID restrictions ease").

Hasbro shares rose 10% to their highest level in 17 months after the company beat [quarterly results expectations](https://www.financedigest.com/ericssons-quarterly-core-profit-misses-expectations.html "Ericsson’s quarterly core profit misses expectations") on Monday.

We may experience some shifts in delivery dates and timing of revenue, but we’re leveraging our [global footprint and scale to meet demand,” Chief Financial Officer](https://www.financedigest.com/black-panther-sequel-ignites-box-office-with-330-million-global-debut.html "‘Black Panther’ sequel ignites box office with 0 million global debut") Deborah Thomas said.

Globally, companies across [industries have been hit by shipping delays](https://www.financedigest.com/german-industry-calls-for-delay-to-global-minimum-tax-bdi.html "German industry calls for delay to global minimum tax – BDI") and port congestion in a pandemic-hit year, forcing many, including Hasbro, to spend more on finding ways to get products to stores faster.

The higher transportation costs stemming from an increase in the number of ocean freight carriers and the use of more ports to speed-up deliveries have forced Hasbro to announce [price](https://www.financedigest.com/coca-cola-hbcs-annual-profit-beats-warns-of-price-increases.html "Coca-Cola HBC’s annual profit beats, warns of price increases") increases for toys in the third and fourth quarter.

We’re [working to ensure product](https://www.financedigest.com/how-a-clean-desk-will-make-you-more-productive-at-work.html "How a Clean Desk Will Make You More Productive at Work") availability during the holiday season,” Thomas said.

The [company is also leaning more on its TV and movie production business to generate revenue growth](https://www.financedigest.com/ultimate-growth-for-sme-finance-company.html "Ultimate growth for SME finance company"), after a year of pandemic-led shutdowns, with content deals for Netflix, Apple TV+ and Showtime later this year.

Entertainment segment revenue, which includes [production studio Entertainment One and other movie businesses](https://www.financedigest.com/sme-productivity-programme-re-purposed-to-help-businesses-prepare-for-covid-19-economic-recovery.html "SME productivity programme re-purposed to help businesses prepare for Covid-19 economic recovery"), jumped 47% in the second quarter. [Revenue from the consumer](https://www.financedigest.com/sales-revenue-of-tpms-battery-market-to-soar-in-the-near-future-owing-to-growing-consumer-adoption.html "Sales Revenue of Tpms Battery Market to Soar in the Near Future Owing to Growing Consumer Adoption") products segment, which includes toy brands such as Nerf and Play-Doh, rose 33%.

Overall net revenue rose 54% to $1.32 billion in the three months ended June 27, [beating analysts’ average estimate](https://www.financedigest.com/ibm-beats-first-quarter-profit-estimates-signals-demand-holding-up.html "IBM beats first-quarter profit estimates, signals demand holding up") of $1.16 billion, according to Refinitiv IBES data.

Its adjusted [profit of $1.05 per share beat expectations](https://www.financedigest.com/portuguese-airline-tap-swings-to-profit-earlier-than-expected.html "Portuguese airline TAP swings to profit earlier than expected") of 47 cents per share.

(Reporting by Uday Sampath in Bengaluru; Editing by Arun Koyyur)


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