Hasbro exec says toymaker faces prospect of more direct import cancellations and shifts to domestic orders as list 4 tariffs approach
Hasbro exec on u.s. tariffs on chinese imports - we have had good success building prodcuts in india and vietnam - conf call.hasbro exec - we continue to invest in gaming initiatives, including magic: the gathering arena.hasbro exec - we are on track to achieve our target of sourcing 50% for u.s. out of china by year-end 2020.hasbro exec on entertainment one acquisition - have received regulatory approvals in 2 of 4 jurisdictions where it is required, the u.s. and germany, with canada and the u.k. outstanding.hasbro exec on tariff effect on q3 - our retailers canceled major direct import program orders and rewrite many of those orders as domestic shipments.hasbro exec on tariff impact on q3 - to meet demand, we added airfreight and shifted warehousing at an incremental expense to ensure shelves were stocked.hasbro exec on tariffs - co still face prospect of more direct import cancellations and shifts to domestic orders as dec. 15 list 4 approaches for most of our product lines.hasbro exec - two brand areas that were most impacted by the direct imports were games business and nerf.hasbro exec - some of our games were actually tariffed as part of list 3 tariffs.hasbro exec - we took pricing in the quarter to offset the impact of (list 3) tariffs.hasbro exec - in 2020, we're going to have several new games to talk about.hasbro exec - "we view these dynamic supply chain challenges as short term".
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