Hasbro Inc. (NASDAQ:HAS) Q4 2018 Earnings Conference Call Transcript

Feb 08, 2019 • 08:30 am ET

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Hasbro Inc. (NASDAQ:HAS) Q4 2018 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good morning, and welcome to the Hasbro Fourth Quarter and Full Year 2018 Earnings Conference Call. At this time, all parties will be in listen-only mode. A brief question and answer session will follow the formal presentation. (Operator Instructions) Today's conference is being recorded. If you have any objections, you may disconnect at this time.

At this time I'd like to turn the call over to Ms. Debbie Hancock, Senior Vice President of Investor Relations. Please go ahead.

Executive
Debbie Hancock

Thank you, and good morning, everyone. Joining me this morning are Brian Goldner, Hasbro's Chairman and Chief Executive Officer, and Deb Thomas, Hasbro's Chief Financial Officer.

Today, we will begin with Brian and Deb providing commentary on the Company's performance, and then we will take your questions. Our earnings release was issued this morning and is available on our investor website. Additionally, presentation slides containing information covered in today's earnings release and call are also available on our investor website.

The press release and presentation include information regarding non-GAAP adjustments and non-GAAP financial measures. Our call today will discuss certain adjusted measures, which exclude these non-GAAP adjustments. A reconciliation of GAAP to non-GAAP measures is included in the release and presentation. Please note that whenever we discuss earnings per share or EPS we are referring to earnings per diluted share.

Before we begin I would like to remind you that during this call and the question-and-answer session that follows, members of Hasbro management may make forward-looking statements concerning managements' expectations, goals, objectives, and similar matters. There are many factors that could cause actual results or events to differ materially from the anticipated results or other expectations expressed in these forward-looking statements. Some of those factors are set forth in our annual report on form 10K, our most recent 10Q, in today's press release, and in our other public disclosures. We undertake no obligation to update any forward-looking statements made today to reflect events or circumstances occurring after the date of this call.

I would now like to introduce Brian Goldner. Brian?

Executive
Brian D. Goldner

Thank you, Debbie. Good morning, everyone, and thank you for joining us today. Informed by our proprietary global consumer insight and industry-leading brand-building capabilities, Hasbro's global teams worked to do more than just respond to a very disruptive market last year. In 2018, our teams actively managed through the year but also took strategic steps to drive long-term success in a rapidly changing environment.

Over the course of a 12-month period, we reimagined and redesigned our go-to market strategy and reshaped our organization to become a more agile, modern, and digitally driven play and entertainment company. We meaningfully diversified our retail mix and grew online point-of-sale double digits, absent the impact of Toys-R-Us. We pivoted to a digital first approach, making Hasbro a complete e-com partner. As a result, according to edge market share, Hasbro was the No. 1 toy and game company on Amazon in the US and Canada.

We streamlined and focused our teams, cutting cost across the business. We