HAS – Market expectations are for Uniform ROA to fade, but management is confident about their European business, sales, and storytelling

• Hasbro, Inc. (HAS:USA) currently trades below corporate averages relative to UAFRS-based (Uniform) earnings, with a 19.2x Uniform P/E. At these levels, the market is pricing in bearish expectations for the firm, but management is confident about their European business, Amazon Prime day sales, and storytelling
  
• Specifically, management is confident their European business is performing well, their storytelling around MAGIC: THE GATHERING is synchronized between their analog and digital business, and that sales peaks during Amazon Prime days were higher than expected. In addition, they are confident their in-stocks have improved and Q4 results partly reflect licensee sales