Hasbro released its annual report last Friday, revealing some details of its operations not previously disclosed in its announcement of year-end results (see 'Hasbro Sales, Trends Down for Year'). The break-out of its retail segment disclosed continued large losses of around $20 million in 2002, down from a $37 million loss in 2001. But $16 million of that $37 million was an impairment charge, so the operating loss was virtually identical in 2002 as it was in 2001. Revenues declined to around $49 million from $51 million in 2001 and $57 million in 2000. The number of stores was listed as 80, down from 85 at the end of 2001 and 100 at the end of 2000.
A little more information about the reasons for the decline in sales in the games segment was given; declines in the sales of Magic: The Gathering and Harry Potter trading card games were mentioned in addition to the decline in Pokemon sales previously revealed.
And the degree of concentration of sales in top retailers continued. Wal-Mart accounted for 19% of sales in 2002, up from 17% in 2001 and 14% in 2000. Toys R Us accounted for 16% of sales in 2002 vs. 13% of sales in both 2001 and 2000. Hasbro's top five accounts represented 52% of sales in 2002.