Toys 'R' Us Liquidation Creates Near-Term Headwind for Mattel and Hasbro, Long-Term Thesis Intact
Toys 'R' Us, or TRU, recently announced its liquidation in the U.S., and we’ve taken steps to adjust our 2018 top- and bottom-line estimates for Mattel and Hasbro. While the closure of a major partner is unfavorable, we don’t believe this change impacts our long-term thesis or narrow moat ratings for either Mattel or Hasbro, given the decreasing reliance each has had on this channel since the retailer’s Chapter 11 filing in September (representing a high-single-digit percent of sales in fiscal 2...Hasbro is a global play and entertainment company. The company's segments are: United States and Canada, which includes the marketing and selling of action figures, electronic toys and related electronic interactive products, among others, primarily within the United States and Canada; International, which markets and sells both toy and game products primarily in the European, Asia Pacific, and Latin and South American regions; Entertainment, Licensing and Digital, which includes consumer products licensing, digital gaming, movie and television entertainment operations; and Global Operations, which sources finished products for the company's United States and Canada and International segments.
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