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Hasbro reports surprise sales drop in fourth quarter
Economy
Published in 13-2-2018
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NEW YORK - Toymaker Hasbro saw a surprise sales drop for the critical fourth quarter as it struggled with lagging sales of "Star Wars" toys and the woes of Toys R Us. That comes after results last week from Mattel, which posted an unexpected loss and disappointing sales for the quarter that includes the holiday season. Hasbro's results, announced Wednesday, underscore the challenges toymakers face. Parents are spending more for toys online at sites like Amazon, and kids are more interested in mobile devices than traditional toys. The Pawtucket, R.I.-based company posted quarterly revenue of $1.6 billion, down from $1.63 billion and short of Wall Street forecasts for $1.73 billion.
Reference: www.chron.com