Is Hasbro Stock a Buy?
One of the industries that has been hard-hit by the pandemic is toys. That's somewhat counter-intuitive, since kids need toys when they're home all day. But digital entertainment and gaming were the winners during lockdowns, and traditional toys fell by the wayside when people, many of whom lost their jobs over the past few months, used their funds for essentials.
Play and entertainment company Hasbro (NASDAQ: HAS) posted a major sales decline in the second quarter ended June 28 as its toys were outsold by digital gaming products. But it's changing its product line to reflect today's trends and to become more relevant. Does that make it a buy?
Hasbro makes many of the toys and games you know and love, such as Monopoly, G.I. Joe, and My Little Pony. It has three broad product segments: gaming, entertainment, and consumer products. The company began with toys and added games, but Hasbro has been developing digital gaming and entertainment as trends shift in that direction. Even before the pandemic, sales were slowing down, and Hasbro's been making strong efforts to join the digital age and pump up its top line.
Source Fool.com
