Hasbro, Inc. HAS is set to relaunch Furby, an interactive toy, which will be available on the e-commerce platform Amazon and at all major retailers from Jul 15.
Hasbro is initiating this relaunch to commemorate Furby’s 25-year completion since its first launch. The new interactive toy friend is available in purple and coral colors with five voice-activated modes and more than 600 responses to discover, including lights, sounds, and 10 unique songs. With this launch, the company is hoping that the current generation gets a taste of the toy’s nostalgia.
The company has optimistic views on the launch of the new and improved version of the interactive toy. It anticipates this initiative to add to its growth momentum.
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Shares of HAS have gained 22.9% in the past three months, outperforming the Zacks Toys - Games - Hobbies industry’s growth of 4.7%.
Hasbro’s Growth Initiatives
Hasbro is undertaking various initiatives in operational segments to drive growth. It has a solid gaming portfolio and is refining gaming experiences across a multitude of platforms like face-to-face gaming, tabletop gaming and digital gaming experiences on mobile. Such factors assist the company in witnessing strong demand. Given the strength of its product lineup and a greater focus on entertainment-backed products, Hasbro's Entertainment and Licensing segment is poised for growth. The company stated that it is currently investing in longer-term larger gameplay. In first-quarter 2023 (ended Apr 2), net revenues from the company’s total Gaming category were $386.5 million, up 2% year over year.
Hasbro’s continuous focus on adopting plans to deliver a robust lineup of entertainment and innovation from E1 and its partners bodes well. The company intends to focus on a multi-year content roadmap led by eOne and a deep and innovative merchandise program to drive growth.
Zacks Rank & Key Picks
Hasbro currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Zacks Consumer Discretionary sector are Royal Caribbean Cruises Ltd. RCL, Skechers U.S.A., Inc. SKX and Marriott International, Inc. MAR.
Royal Caribbean Cruises presently sports a Zacks Rank #1 (Strong Buy). RCL has a trailing four-quarter earnings surprise of 26.4%, on average. The stock has surged 97% in the year-to-date period. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for RCL’s 2023 sales and earnings per share (EPS) indicates a rise of 48.5% and 162.5%, respectively, from the year-ago period’s levels.
Skechers currently sports a Zacks Rank #1. SKX delivered a trailing four-quarter earnings surprise of 18.8%, on average. Shares of the company have increased 22.8% in the year-to-date period.
The Zacks Consensus Estimate for SKX’s 2023 sales and EPS indicates a rise of 7.7% and 31.5%, respectively, from the year-ago period’s levels.
Marriott currently carries a Zacks Rank #2 (Buy). MAR has a trailing four-quarter earnings surprise of 8%, on average. Shares of the company have increased 18% in the year-to-date period.
The Zacks Consensus Estimate for MAR’s 2023 sales and EPS indicates a rise of 12.9% and 25.4%, respectively, from the year-ago period’s levels.
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Hasbro, Inc. (HAS) : Free Stock Analysis Report
Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report
Skechers U.S.A., Inc. (SKX) : Free Stock Analysis Report
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