Alfred Verrecchia
Alfred Verrecchia
boys business decline high hurt margin overall
The overall decline in our boys' business hurt toys' profitability because that is a high margin business for us,
ability achieve confidence financial performance
Our performance year-to-date ... reinforces the confidence we have in our ability to achieve our full-year financial goals.
began cost expense focused last levels major management objective operating possible progress quickly reduction remains returning savings step team towards year
We've made significant progress in our cost savings initiatives, with reductions in all operating expense categories, ... Hasbro's management team remains focused and the expense reduction initiatives we began last year are a major step towards our most important objective of returning as quickly as possible to the profitability levels we have had historically.
business clearly contribute expect extent next year
We expect it to contribute meaningfully to our business this year and next year, but clearly not to the extent it has before.
business full good quarter second worth
While we feel good about the business for the full year, it's worth noting that the second quarter will be challenging.