Hasbro's Chief Financial Officer, Gina Goetter, revealed that the company had to reconsider its strategy drastically after President Trump's decision to lower tariffs on Chinese imports from 145% to 30%. This shift has halted some planned pricing increases and changed the trajectory of production plans. Initially, Hasbro was preparing for financial adjustments due to the high tariffs, but they now have more flexibility to approach pricing and production thoughtfully. The company, known for products like Nerf guns and Play-Doh, is now also reconsidering its manufacturing strategies, poised for changes based on market conditions.
Gina Goetter explained, "A 30% world is very different from a 145 on how we're treating decisions like pricing, how we're treating allowances, how we're working with our retailers on promotions. This allows us to reconsider our strategies comprehensively."
Goetter described the abrupt shift by saying, "Monday's announcement allows us to go back to those products where we were taking pricing and be very thoughtful. This flexibility changes our approach significantly."
Collection
[
|
...
]