Hasbro’s E-commerce Sales Go Through the Roof
Due to the effects of the COVID-19 (coronavirus) pandemic, e-commerce sales represented a large portion of company sales in 2020, generating over $1.0 billion, as consumers opted to purchase products online as opposed to in-store due to health and safety concerns. While the effects of the pandemic have slowly subsided, Hasbro recognized the influence it had on its company. In its latest annual report, Hasbro states that retailers have opted to hold less inventory, forcing it to adjust its supply chains. The company believes if it is unable to adapt to a more digital business, it will harm sales in the long term.
COVID|Balance Sheet|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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