Hasbro’s chief executive officer, Brian Goldner has admitted to the company’s misstep in releasing toys too far ahead of Star Wars: The last Jedi.
In a statement made by Goldner, he explains that the move has contributed to disappointing sales of the products during the Christmas holidays.
“The fact that we began to merchandise the film in September and the film came out in December was just too long a period of time to sustain retail interest,” said Goldner.
“It didn’t help that lots of other toys were hitting around the same time with an array of entertainment initiatives coming to market.”
With The Last Jedi roll-out, Hasbro and Disney both hoped to replicate the success of 2015’s The Force Awakens. In both cases they debuted toys in September, about three months before the movie reached theatres.
However, the strategy somewhat backfired in 2017 for The Last Jedi as momentum dropped off earlier than expected and sales of Star Wars toys unexpectedly declined last year.
Hasbro’s overall revenue fell two per cent in the fourth quarter and its shares have lost 7.8 per cent of their value this year.
Hasbro is seemingly adapting its roll-out strategy for merchandise surrounding the next in the Star saga. Toys tying into the next in the Star Wars saga, Solo: A Star Wars Story will roll out early next month before the movie comes out on May 25.