Toy-maker Hasbro Inc. (NASDAQ: HAS) reported second quarter 2020 earnings results today.
Revenues dropped 29% year-over-year to $860.3 million, hurt by store closures and product shortages.
Net loss attributable to Hasbro was $33.9 million, or $0.25 per share, versus earnings of $13.4 million, or $0.11 per share, in the same period last year. Adjusted net income was $2.7 million, or $0.02 per share.
The company expects revenue from shipments to brick and mortar customers and delivery of content to meet demand to continue to be impacted by COVID-19 closures. Hasbro now expects 2020 content production cash spend to be in the range of around $450-$550 million.
Click here to access the transcript of Hasbro Q2 2020 earnings conference call
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