11-K

                    SECURITIES AND EXCHANGE COMMISSION

                         WASHINGTON, D.C.  20549


                                FORM 11-K

(MARK ONE)
\X\  ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2003.

                                   OR

\ \  TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1934

                   COMMISSION FILE NUMBER 1-6682

      A. FULL TITLE OF THE PLAN AND ADDRESS OF THE PLAN, IF DIFFERENT
                   FROM THAT OF ISSUER NAMED BELOW:

                 HASBRO, INC. RETIREMENT SAVINGS PLAN

      B. NAME OF ISSUER OF THE SECURITIES HELD PURSUANT TO THE PLAN AND
             THE ADDRESS OF ITS PRINCIPAL EXECUTIVE OFFICE:

                             HASBRO, INC.
                         1027 NEWPORT AVENUE
                       PAWTUCKET, RI 02862-1059


                           REQUIRED INFORMATION

I.     FINANCIAL STATEMENTS

  The following Plan financial statements and schedule prepared in accordance
with the financial reporting requirements of the Employee Retirement Income
Security Act of 1974 are filed herewith, as permitted by Item 4 of Form 11-K:

   Report of Independent Registered Public Accounting Firm
   Statement of Net Assets Available for Plan Benefits as of
    December 31, 2003 and 2002
   Statements of Changes in Net Assets Available for Plan Benefits for
    the years ended December 31, 2003 and 2002
   Notes to Financial Statements

   Supplemental Schedule:
    Schedule H, Line 4i - Schedule of Assets (Held at End of Year)

    Other schedules are omitted as the required information is not applicable.


II.    EXHIBITS

23    Consent of Independent Registered Public Accounting Firm



                               SIGNATURE

  Pursuant to the requirements of the Securities Exchange Act of 1934, the
Committee appointed by the Board of Directors of Hasbro, Inc. to administer
the Plan has duly caused this Annual Report on Form 11-K to be signed on its
behalf by the undersigned hereunto duly authorized.



Date: June 25, 2004                            /s/ David D.R. Hargreaves
      -------------                            --------------------------
                                               David D. R. Hargreaves
                                               Senior Vice President and
                                               Chief Financial Officer of
                                               Hasbro, Inc.



            Report of Independent Registered Public Accounting Firm


The Plan Trustees
Hasbro, Inc. Retirement Savings Plan:

We have audited the accompanying statements of net assets available for plan
benefits of the Hasbro, Inc. Retirement Savings Plan (the Plan) as of
December 31, 2003 and 2002, and the related statements of changes in net
assets available for plan benefits for the years ended. These financial
statements are the responsibility of the Plan's management. Our responsibility
is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we
plan and perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in
the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We believe that our
audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets available for plan benefits of the Plan
as of December 31, 2003 and 2002, and the changes in net assets available for
plan benefits for the years ended December 31, 2003 and 2002, in conformity
with U.S. generally accepted accounting principles.

Our  audits were performed for the purpose of forming an opinion on the  basic
financial statements taken as a whole. The supplemental Schedule H, Line 4i  -
Schedule  of Assets (Held at End of Year) as of December 31, 2003 is presented
for the purpose of additional analysis and is not a required part of the basic
financial  statements  but  is  supplementary  information  required  by   the
Department of Labor's Rules and Regulations for Reporting and Disclosure under
the Employee Retirement Income Security Act of 1974. The supplemental schedule
is  the responsibility of the Plan's management. The supplemental schedule has
been  subjected to the auditing procedures applied in the audits of the  basic
financial  statements and, in our opinion, is fairly stated  in  all  material
respects in relation to the basic financial statements taken as a whole.

/s/ KPMG LLP

Providence, Rhode Island
June 14, 2004


                             HASBRO, INC. RETIREMENT SAVINGS PLAN

                   Statements of Net Assets Available for Plan Benefits

                                   December 31, 2003 and 2002


                                                     2003              2002
                                                     ----              ----
Assets:
    Cash                                        $    109,864            52,620
    Investments                                  234,241,703       186,647,403
                                                 -----------       -----------
          Total investments and cash (note 3)    234,351,567       186,700,023
                                                 -----------       -----------

Receivables:
     Loans to participants                         3,914,525         3,833,383
     Investment income                                   100                54
                                                 -----------       -----------
          Total receivables                        3,914,625         3,833,437
                                                 -----------       -----------

     Net assets available for plan benefits     $238,266,192       190,533,460
                                                 ===========       ===========




See accompanying notes to financial statements.





                            HASBRO, INC. RETIREMENT SAVINGS PLAN

               Statements of Changes in Net Assets Available for Plan Benefits

                           Years ended December 31, 2003 and 2002


                                                      2003           2002
                                                      -----          -----
Additions to net assets attributed to:
  Investment income (loss):
    Net appreciation (depreciation) in fair
      value of investments                        $  37,387,978   (41,312,493)
    Dividends and interest                            5,043,481     4,633,577
                                                    -----------   -----------
        Total investment income (loss) (note 3)      42,431,459   (36,678,916)
                                                    -----------   -----------

Contributions:
  Rollovers                                             366,868       417,641
  Employee contributions                             11,364,123    11,331,391
  Employer matching contributions                     7,542,880     7,620,565
                                                    -----------   -----------
        Total contributions                          19,273,871    19,369,597
                                                    -----------   -----------

            Total additions                          61,705,330   (17,309,319)

Deductions from net assets attributed to:
  Termination, withdrawal and retirement
    payments directly to participants                13,858,155    19,147,653
  Administrative expenses                               114,443       192,145
                                                     -----------   -----------

            Total deductions                         13,972,598    19,339,798

            Net increase (decrease)                  47,732,732   (36,649,117)

Net assets available for plan benefits:
  Beginning of year                                 190,533,460   227,182,577
                                                   ------------   -----------
  End of year                                    $  238,266,192   190,533,460
                                                   ============   ===========


See accompanying notes to financial statements.


                         HASBRO, INC. RETIREMENT SAVINGS PLAN

                            Notes to Financial Statements

                             December 31, 2003 and 2002

(1) Description of Plan

   The following brief description of the Hasbro, Inc. Retirement Savings Plan
  (the Plan) is provided for general information purposes only. Participants
   should refer to the Plan agreement for more complete information.

   (a)  General

        The Plan is a defined contribution plan subject to the provisions of
        the Employee Retirement Income Security Act of 1974 (ERISA) and is
        available to substantially all domestic employees of Hasbro, Inc. and
        certain subsidiaries (collectively the Company or Plan Administrator).
        Participation in the Plan is voluntary and eligibility provisions
        apply.

   (b)  Contributions

        Eligible employees could contribute up to 50% of their gross pay,
        limited to an annual maximum of $12,000 and $11,000,respectively, in
        2003 and 2002.  Contributions may be limited to less than the
        maximum percentage of gross pay to enable the Company to meet IRS
        discrimination regulations.  The Company makes a matching
        contribution, except for Milton Bradley union employees, of 200% of
        the first 2% of the participants' gross pay that they contribute, plus
        a 50% match of the next 4% of participants' gross pay that they
        contribute up to a maximum matching contribution of 6% of a
        participant's gross pay. For Milton Bradley union employees the
        Company makes a 25% matching contribution of the participants'
        contributions up to a maximum matching contribution of 6% of a
        participant's gross pay.

   (c)  Benefits

        All participants currently employed by the Company own, or are vested
        in, 100% of the total value of their plan account, including the
        Company's 401(k) matching contribution to the Plan, except for Milton
        Bradley union employees who become 100% vested in Company
        contributions on January 1 following the completion of one year of
        service. A participant's entire vested account will be paid upon
        retirement, disability, or termination of employment. The account
        balance will be paid to a beneficiary upon death of the participant.

        Participants in the Plan have the option of receiving their account
        either in a lump sum or in periodic installments.  Participants,
        except for terminated participants, may also make in-service
        withdrawals from their Pre-Tax Savings Contribution Account in the
        event of a demonstrated severe financial hardship as defined by the
        IRS Safe Harbor rules. Participants who have reached age 59 1/2
        may make in-service withdrawals from their vested accounts in the Plan
        for any reason.

                         HASBRO, INC. RETIREMENT SAVINGS PLAN

                            Notes to Financial Statements

                             December 31, 2003 and 2002

   (d)  Participant Loans

        The maximum loan available to each participant is the lesser of (1)
        $50,000 reduced by the highest outstanding loan balance due from
        the participant during the preceding twelve months, or (2) 50% of the
        participant's vested account balance, reduced by the current
        outstanding loan balance due from the participant. The minimum loan
        amount available to participants is $500. Each loan shall bear a fixed
        interest rate based on the prime rate published in the Wall Street
        Journal. Repayment of the loan must be made over a period not to
        exceed five years, unless it is for the purchase of a primary
        residence, then the loan period cannot exceed ten years.

(2) Summary of Accounting Policies

   (a) Basis of Accounting

        The preparation of financial statements in conformity with accounting
        principles generally accepted in the United States of America requires
        the Plan Administrator to make estimates and assumptions that affect
        the reported amounts in the financial statements and accompanying
        notes. Actual results could differ from those estimates.

        The accompanying financial statements are presented on the accrual
        basis of accounting. Benefits payable at year end are not accrued for
        as they are considered to be a component of the net assets available
        for plan benefits.

   (b) Investments

        Investments are stated at fair value. Company stock held in the Hasbro
        Stock Fund is valued at the composite closing price on the New York
        Stock Exchange. The fair value for all other investments is determined
        daily by Fidelity Management Trust Company (the Trustee) on a per
        share basis using security prices quoted on national exchanges, and
        amortized cost in the case of any short-term and money market
        securities held. Participant notes receivable are valued at cost,
        which approximates fair value.

        Security transactions received prior to 4:00 pm Eastern time by the
        Trustee are recognized on that business day. Transactions received
        after 4:00 pm Eastern time are valued as of the next business day.
        Interest income is recorded on the accrual basis and dividend income
        is recorded on the ex-dividend date.

        Net appreciation (depreciation) in the fair value of investments
        includes both realized and unrealized gains and losses.


                         HASBRO, INC. RETIREMENT SAVINGS PLAN

                            Notes to Financial Statements

                             December 31, 2003 and 2002

   (c) Contributions

        Contributions from employees are accounted for when such contributions
        are deducted from wages. The Company's matching contributions are
        accrued at the time the employee's contributions are deducted.

   (d) Payments of Benefits

       Benefits are recorded when paid.

   (e) Administrative Expenses

       The Plan bears all costs and general expenses incurred with regard to
       legal and communication fees, other professional fees, independent
       fund managers and the purchase and sale of investments. Other costs of
       administration are paid for by the Plan Administrator.


(3) Investment Information

   Participants may elect to have their accounts invested in one or more of
   the investment funds offered by the Plan. Investment funds offered by the
   Plan include the following nationally traded mutual funds: the Fidelity
   Magellan Fund, Fidelity Freedom Income Fund, the Fidelity Equity Income
   Fund, the Fidelity Growth Company Fund, the Fidelity Freedom 2000 Fund,
   the Fidelity Freedom 2010 Fund, the Fidelity Freedom 2020 Fund, the
   Fidelity Freedom 2030 Fund, the Fidelity Freedom 2040 Fund, the Dreyfus
   Emerging Leaders Fund, the PIMCO Total Return Fund, the Spartan US Equity
   Index Fund, and the Fidelity Diversified International Fund.

   Participants can elect to invest up to 25% of their contributions in the
   Hasbro Stock Fund which is a unitized company stock fund that invests in
   the stock of Hasbro, Inc. and other short term investments designed to
   allow participants to buy and sell without the usual trade settlement
   period for individual stock transactions. Ownership is measured in units
   of the fund instead of shares of stock. In addition, participants cannot
   elect to reallocate their investment funds that would result in 25% or
   more of their account invested in the Hasbro Stock Fund.

   Participants may also elect to invest their funds in the Fleet Stable
   Asset Fund. This fund is managed by Columbia Management Advisors, Inc. and
   invests in fixed income contracts. This fund yielded approximately 4.35%
   and 5.32% for 2003 and 2002, respectively.


                         HASBRO, INC. RETIREMENT SAVINGS PLAN

                            Notes to Financial Statements

                             December 31, 2003 and 2002

   The following table represents the fair values of investments, which were
   5 percent or more of the Plan's net assets as of December 31, 2003:

   Fidelity Magellan Fund                           $ 56,709,525
   Fidelity Equity Income Fund                        35,056,484
   Fidelity Growth Company Fund                       40,634,736
   Fleet Stable Asset Fund                            53,483,941

   During 2003 and 2002, the Plan's investments (including gains and losses
   on investments bought and sold, as well as held during the year)
   appreciated / (depreciated) in value by $37,387,978 and $(41,312,493),
   respectively, as follows:

                                                   Year Ended December 31,
                                                    2003             2002
                                                   ------           ------
   Shares in Registered Investment Companies   $ 36,500,640     (40,952,353)
   Hasbro, Inc. Common Stock Fund                   887,338        (360,140)
                                                -----------       ----------
                                               $ 37,387,978     (41,312,493)
                                                 ===========      ==========

(4) Related Party Transactions

   Certain Plan investments are shares of mutual funds managed by Fidelity
   Management and Research Company, an affiliate of the Trustee, and,
   therefore, qualify as party-in-interest transactions.

(5) Plan Termination

   Upon termination of the Plan and trust, each Participant shall be entitled
   to receive the vested amount standing to the credit of their account as of
   the final valuation date.  The Trustee shall make payments of such amounts
   as directed by the Plan Administrator.

   Although the Company has not expressed any intent to do so, it reserves
   the right to terminate the Plan at any time subject to ERISA provisions.

(6) Federal Income Taxes

   The Internal Revenue Service issued a determination letter on January 21,
   2003, which stated that the Plan and its underlying trust are designed in
   accordance with applicable sections of the Internal Revenue Code (IRC),
   and therefore, are exempt from federal income taxes.



                         HASBRO, INC. RETIREMENT SAVINGS PLAN

        Schedule H, Line 4i - Statements of Assets Held for Investment
                           Purposes at End of Year

                        Year ended December 31, 2003

    Issuer                       Investment Description         Current Value
    ------                       -----------------------        -------------
Fidelity Magellan Fund*           Shares in registered         $ 56,709,525 **
                                   investment company

Fidelity Equity Income Fund*      Shares in registered           35,056,484 **
                                   investment company

Fidelity Growth Company Fund*     Shares in registered           40,634,736 **
                                   investment company

Fleet Stable Asset Fund           Common/collective trusts       53,483,941 **


Fidelity Freedom Income Fund*     Shares in registered              877,127
                                   investment company

Fidelity Freedom 2000 Fund*       Shares in registered              558,777
                                   investment company

Fidelity Freedom 2010 Fund*       Shares in registered           10,677,500
                                   investment company

Fidelity Freedom 2020 Fund*       Shares in registered            2,754,011
                                   investment company

Fidelity Freedom 2030 Fund*       Shares in registered            2,576,243
                                   investment company

Fidelity Freedom 2040 Fund*       Shares in registered              424,261
                                   investment company

Dreyfus Emerging Leaders Fund     Shares in registered            7,622,411
                                   investment company

PIMCO Total Return Fund           Shares in registered            7,632,061
                                   investment company

Spartan US Equity Index Fund      Shares in registered            5,217,872
                                   investment company

Fidelity Diversified              Shares in registered            7,903,628
 International Fund*               investment company

Hasbro Stock Fund                 Common Stock of Hasbro, Inc.    2,222,990
                                   and other short-term
                                   investments
                                                                -----------
  Investments                                                  $234,351,567
                                                                ===========

Loans to Participants*            Interest rate 4.0% to 9.5%   $  3,914,525

 *Party-in-interest

**Represents greater than 5% of Plan assets at December 31, 2003.

See accompanying report of independent registered public accounting firm.

EX-23

EXHIBIT 23

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

The Plan Trustees

Hasbro, Inc. Retirement Savings Plan:

We consent to incorporation by reference in registration statement No. 333-34282 on Form S-8 of the Hasbro, Inc. Retirement Savings Plan of our report dated June 14, 2004, relating to the statements of net assets available for plan benefits of the Hasbro, Inc. Retirement Savings Plan as of December 31, 2003 and 2002, and the related statements of changes in net assets available for plan benefits for the years then ended, and the related supplementary schedule, which report appears in the December 31, 2003 annual report on Form 11-K of the Hasbro, Inc. Retirement Savings Plan.

/s/ KPMG LLP

Providence, Rhode Island

June 24, 2004