Hasbro Shifts Headquarters From Rhode Island To Boston – Here’s Why

Hasbro (HAS) announced on Monday that it's moving its headquarters from Rhode Island to Boston’s Seaport District. 

Hasbro’s stock edged 0.8% lower in afternoon trade. On Stocktwits, retail sentiment around the toy maker trended in the ‘bullish’ zone over the past day. The stock is up nearly 40% year-to-date and has gained around 18% over the past 12 months.

The company stated the new location will be its primary headquarters for toys, board games, and licensing businesses, as well as the majority of its corporate services. Hasbro said the strategic shift will help the company “accelerate innovation, attract top talent, and drive long-term growth.”

The company said the new facility will accommodate at least 700 full-time employees who are expected to transition from Rhode Island to Boston by the end of next year. The company did not specify what would happen to its existing offices in Rhode Island, but said its ties to the state “remain strong.”

The maker of Play-Doh, Monopoly, and Nerf blasters noted that it continues to operate campuses and manufacturing sites across the broader U.S. It also has offices in Hong Kong, London, Mexico City, and Montreal.

Earlier this year, Hasbro CEO Chris Cocks warned that the prices of toys and games that the company made could rise amid the tariff battle between the U.S. and China. During the second-quarter (Q2) earnings call, Cocks said that the company was working toward diversifying its supply chain to reduce its exposure in China to less than 40% by the end of 2027.

The company’s third-quarter (Q3) results are scheduled for release in October, with Wall Street expecting earnings per share (EPS) of $1.61 on revenue of $1.33 billion, according to Stocktwits data.

Read also: PNC To Buy Colorado’s FirstBank for $4.1B In Push To Bolster National Reach: Report

For updates and corrections, email newsroom[at]stocktwits[dot]com.