It’s been nearly a full month after the Trump administration’s tariffs went into effect (then semi-reversed), and several companies have been impacted. For the most part, Hasbro isn’t one of them.
In the company’s recent investor call, CEO Chris Cocks said it was “well positioned” within the current global trade situation. Its games business is mostly digital, or in the case of its board game division, mostly made domestically. Wizards of the Coast, which handles Dungeons & Dragons and Magic: The Gathering, has “low tariff exposure.” Its domestic supply is stationed in Texas and North Carolina, and international manufacturers are in Kyoto, Japan or Europe, both of which are currently exempt from the tariffs.
China, which has been hit with the brunt of those tariffs, is still a “major manufacturing hub,” and the D&D boxed sets are the only Wizards-related import from the country. That said, Cocks acknowledged Hasbro’s been performing “more complex logistics,” and called for a “more predictable and favorable U.S. trade policy environment. We fully endorse the Toy Association’s advocacy for zero tariffs on toys and games globally, either on U.S. exports or on imports.”
“Ultimately, tariffs translate into higher consumer prices, potential job losses as we adjust to absorb increased costs, and reduced profits for our shareholders,” he continued. “Our guidance is unchanged, supported by our robust games and licensing businesses and our strategic flexibility, but prolonged tariff conditions create structural costs and heighten market unpredictability.”
For the moment, Hasbro isn’t too worried about how tariffs will impact its Wizards products. Cocks said Magic had a “surging business” for the first quarter of 2025-2026 that attributed greatly to the division’s 46% revenue growth.
He credited the card game’s “continued strength in licensing,” in particular the upcoming crossover with Final Fantasy. The Universes Beyond set releases on June 13, and pre-orders have already made it the best-selling Magic set ever.
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