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Analyst
Kylie Cohu
Period: Reporting periods mapped to calendar 2024 Q4 – 2026 Q2 (7 quarters).
- Questions
- 12on tracked calls
- Challenge rate
- 8%1 of 12 questions
- Companies
- 1questioned at least once
- Reporting periods
- 7with questions
These figures cover the whole profile: every tracked question, all reporting periods.
How to read these numbers
Challenge rate is the share of questions that pushed back, pressed for specifics or questioned management’s assumptions. It describes how questions were asked on the calls tracked here; it does not measure whether any view turned out to be right.
Rounding. Rates are rounded to whole percentages, so a small share can show as 0% even when some questions were challenging. The count beside each rate is exact; “none of N questions” means no question was challenging.
No questions recorded. “—” means there is nothing to calculate: no questions were recorded for that period on the calls tracked here. It does not mean there was no activity.
Fewer than 3 questions. A company-level rate is withheld when fewer than 3 questions were recorded for that company; the questions are still counted everywhere else.
Small samples. Profiles with fewer than 10 questions are marked Limited sample.
Reporting periods. Questions are grouped by the calendar quarter each company’s fiscal reporting period maps to, not by the date of the call. Periods without a calendar mapping are listed separately under their fiscal label.
Questions asked
Grouped by company, most questions first. Open a company to read its questions, newest reporting period first.
Showing 12 of 12 questions from 1 company
HASHasbro12 questions · 7 reporting periods · 1 of 12 challenging
Calendar 2026 Q2
if we could maybe dimensionalize the largest sources of potential upside in the back half of the year
Show response
Cocks cited Magic, D&D Beyond, GEM Squared toy launches like Blooms, and Disney film tie-ins (Spider-Man, Avengers) as back-half upside.
Calendar 2026 Q1
you flagged oil-related cost pressure from freight resin and packaging really impacting more of the back half
Show response
Goetter quantified $30M oil impact largely in consumer products. Offset by $15M tariff favorability plus accelerated productivity, mix management, and operating spend reductions. CP margins planned to grow in both Q3 and Q4.
I was curious what you guys were hearing from retailers and if there was any changes in retailer posture specifically
Show response
Cocks noted gem squared categories grew 22% in 2025 vs industry decline of 3%, driving favorable retailer open-to-buy posture. Goetter confirmed healthy owned and retail inventory levels entering the year.
Calendar 2025 Q4
How would you describe sell-through or like the POS cadence throughout the quarter? Anything unusual to call out or was it kind of as usual?
Show response
Cocks noted SNAP benefit removal from government shutdown as one wobble but otherwise strong POS direction. Gained share in key categories 16-18 out of 20 weeks from September through December. Momentum continues into 2026.
Calendar 2025 Q3
I was curious a little bit if you could expand on your expectations for the Entertainment segment, both in Q4 and then beyond in like steady state
Show response
Goetter confirmed same revenue base with 50-60% margin going forward, lumpy deal timing. Cocks noted 45-50 shows/movies in development with major studios as asset-light brand development pipeline.
I was curious what you're seeing specifically in terms of promotional cadence. One of your peers might have said that it's intensifying heading into the holidays.
Show response
Cocks noted their disciplined pricing earned extra promotion opportunities with Amazon, Walmart, Target. Goetter said it's early to call intensifying given delayed shelf resets concentrating activity in Q4.
Calendar 2025 Q2
curious what you're specifically seeing in terms of the mix of new, lapsed and existing customers for MAGIC specifically?
Show response
Cocks noted stronger new player mix than prior years but couldn't give precise quantitative breakdown. Every metric points to more people playing MAGIC than ever before.
Could you give us a little more color on what drove that? I know you called out a combination of planned build versus the FX/tariffs
Show response
Goetter quantified $15M tariff cost in inventory, plus FX making inventory more expensive, plus DI-to-domestic shift keeping more inventory in domestic warehouses. Expects to exit year slightly above prior year.
Calendar 2025 Q1
I was wanting to dig into the wizard exposure a little more. I know it's small, but I do believe you do source some from Japan.
Show response
Goetter confirmed minimal $5-10M annual Wizards tariff exposure from Japan and Europe manufacturing. Cocks added D&D box sets from China are actually bigger tariff input than Japan Magic cards.
what were those bright spots specifically? That would just be helpful. And kind of what did you see, you know, anything around Easter.
Show response
Cocks cited My Little Pony licensing, Monopoly Go, Transformers up, Beyblade up, and Marvel as POS bright spots.
Calendar 2024 Q4
just kind of curious what which cost you're seeing the most inflation in right now? And just kind of how to think about that, should we be conscious of lapping any deflation
Show response
Goetter quantified inflation at 2.5-3% in 2025, driven by labor in manufacturing and logistics. No material deflation lapping. Q4 logistics rates popped but settling.
Looking at the midterm drivers of margin expansion, I was wondering if you could like rank order those.
Show response
Goetter ranked toy profitability improvement (mix + cost savings) as the single largest margin accretion contributor, noting Wizards margin will decline due to video game monetization.
Challenge rate by company
Every company this analyst questioned, most questions first. A company-level rate is shown from 3 questions; below that it is withheld.
| Company | Questions | Challenge rate |
|---|---|---|
| HAS Hasbro | 12 | 8%1 of 12 questions |
- HASHasbro · 12 questions8%1 of 12 questions
Activity by reporting period
Questions recorded for each calendar quarter that companies’ reporting periods map to (not the call date), with the challenge rate for that period. Periods inside the range with no questions are shown as “No questions recorded”.
| Calendar period | Questions | Challenge rate | Companies |
|---|---|---|---|
| 2024 Q4 | 2 | 0%none of 2 questions | 1 |
| 2025 Q1 | 2 | 0%none of 2 questions | 1 |
| 2025 Q2 | 2 | 0%none of 2 questions | 1 |
| 2025 Q3 | 2 | 0%none of 2 questions | 1 |
| 2025 Q4 | 1 | 0%none of 1 question | 1 |
| 2026 Q1 | 2 | 50%1 of 2 questions | 1 |
| 2026 Q2 | 1 | 0%none of 1 question | 1 |
- 2024 Q42 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2025 Q12 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2025 Q22 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2025 Q32 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2025 Q41 question · challenge rate 0% (none of 1 question) · 1 company
- 2026 Q12 questions · challenge rate 50% (1 of 2 questions) · 1 company
- 2026 Q21 question · challenge rate 0% (none of 1 question) · 1 company
Topics
Topics tagged on this analyst’s questions.
- Demand4
- Cost Pressure3
- Margin3
- Revenue Growth2
- Product Launch2
- Inventory2
- Trade Tariffs2
- Supply Chain2
- Macroeconomic1
- Pricing1
Show all 12 topics
- Competitive Dynamics1
- Subscriber Growth1