Hasbro Announces Yet Another Price Hike
Earlier this week Hasbro released their quarterly earnings report for Q1 2022. Overall revenue is up by 4% compared to Q1/2021, but net earnings declined by almost 50% and profit is down by 19%. You can probably guess what that means.
Nothing specific was said about Star Wars, other than that the Star Wars segment grew in Q1/2022, alongside Marvel and Ghosbusters, this after 70% growth in 2020 and even more growth in 2021. So even though you may never find anything in stores, the stuff seems to be selling online at least. Star Wars is selling!
But Hasbro is already warning that due to the war in the Ukraine and an end to Hasbro’s business in Russia they will lose about $100 million in revenues from everyone’s favorite country. And Hasbro also made an announcement about having to increase prices yet again around mid-year… Click through to read more!
That look on your face when you read the news
Since profit and earnings are down because of shipping costs, inflation and overall increased production costs Hasbro also announced that they will need to raise prices around mid-year. The Marvel Legends figure line had a price increase announced just two days ago, Star Wars action figures will certainly see yet another price hike in a few weeks. Hasbro also warned that ongoing lockdowns in China resulted in factory closures (yet again), on top of that the most important trade port of China, Shanghai, is still under lockdown currently and that makes shipping a nightmare. But Hasbro is currently “advancing delivey of key items” for the holiday season. If Star Wars action figures are “key items” is anyone’s guess.
If you want to know more you can read Hasbro’s earnings report, their powerpoint presentation, or the Motley Fool earnings call transcript.
So, how much are you willing to pay for Star Wars action figures? When will you reach your limit and say “no”? Or will you keep buying, no matter what? Would you buy $30 TBS figures or $20(+) TVC figures? Maybe even in plastic-free packaging?
Despite everything Hasbro’s stock rose after their earnings report. This is how Wallstreet ticks.
I feel it’s time to become even more selective about what I buy. I already ignore all repaints, all the gimmick sublines, the comic book figures, Gaming Greats, most deluxe figures and maybe it’s now time to also ignore the bad kitbashes and to only buy the occasional all new figure that actually looks great. What will you do?
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