As the holiday shopping season approaches, the ongoing supply chain disruptions stemming from the COVID-19 pandemic have made this year particularly stressful for parents. Experts are advising families to get their holiday shopping done sooner rather than later to ensure they can secure everything on their wish lists. Fortunately, Hasbro has provided some good news for parents who are starting to plan their festive purchases.
The renowned toy and game company reported an impressive 11 percent increase in revenue for the third quarter compared to last year. In a statement, Hasbro’s interim CEO, Jamie Foster, reassured consumers that despite the ongoing global supply chain issues, the company is fully prepared to meet the demand for popular items like Dungeons & Dragons, Peppa Pig, and Magic: The Gathering.
In a statement on October 26, Foster noted that their teams are working tirelessly to navigate transportation challenges and ensure that Hasbro products are available for the holiday season. Although the company faced difficulties, including approximately $100 million in unfulfilled orders due to port congestion and rising freight costs, CFO Evelyn Richards expressed optimism that much of the delayed inventory had been delivered. She emphasized that Hasbro has everything in place for a successful holiday season, stating, “You can expect to find Hasbro toys and games on shelves this year.”
While the holiday season may still present some challenges, parents can take comfort in knowing that their children’s favorite Nerf blasters and My Little Pony toys will be arriving in time for celebrations. To alleviate any shopping stress, getting a head start on holiday purchases is always a wise choice. After all, checking off that shopping list early leaves more time to focus on the many other tasks that come with the festive season.
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In summary, Hasbro’s recent updates provide a reassuring outlook for parents planning their holiday shopping amidst ongoing supply chain challenges, promising that popular toys will be available in time for the festivities.