I’d recommend people read up on this a little for themselves:
https://investor.hasbro.com/static-files/9146662a-3034-4a38-a526-6ecc9d946dafD&D was up in the quarter, MAGIC was down due to release timings. YTD WotC is down 2% on revenues. There are a lot of companies/business units that would love to be only down 2% in revenue this year given Biden’s economy.
Capital Allocation Priorities
• Paid $289M in Dividends YTD
• Repurchased $125M in Hasbro common stock YTD
• Purchased D&D Beyond for $146M
• Repaid $73M in long-term debt
• On target to meet debt to adjusted EBITDA target of 2.0 to 2.5X in 2023
• $552M in cash at quarter end
These are not the signs of a company going broke. Hasbro has to be thrilled with WotC. Check out Wizard’s operating profit and margin.
I do agree that their woke nonsense is leaving money on the table. I also believe that both the people they are pissing off and the people they are catering to have one very important thing in common—they are not buying their products. But the hobby itself is so much bigger than these two groups.
If they do not alter course, one day the title of this thread may be true. But it is not true as of today.