Hasbro's quarterly report for its second quarter was released Tuesday, and although its press release last month had previously disclosed most of its segment information (see 'Hasbro Has Strong Q2'), results from the retail segment (comprised of game stores acquired when Hasbro acquired Wizards of the Coast) had not been broken out. Its quarterly report revealed that Hasbro lost $3.1 million in the quarter in its retail segment, down from a $5.8 million dollar loss in the year ago period and from a $6.8 million loss last quarter (see 'Hasbro Q1 Profitable'). Revenues declined 15% to $7.3 million for the quarter. The decrease in revenues and in the size of its loss were attributed to store closings; Hasbro closed 14 stores in the first six months of this year. It did not break out the store closings on a quarterly basis.
Hasbro has been steadily closing stores since the acquisition. With no purchaser for the chain, and an apparent inability to make most of the stores profitable, the company appears to be willing to continue to close stores as leases run out and cut its losses incrementally over time.