PAWTUCKET, R.I. — The repercussions from the demise of Toys R Us have begun to ripple outward beginning with Hasbro, which reported a loss and plunging revenue Monday for its first quarter.<\/p>\n
Toys R Us, hammered by shifting consumer trends, is shuttering the 700 stores it has left, depriving Hasbro, Mattel and other toy makers of prime display space nationwide.<\/p>\n
“We are working to put the near-term disruption from Toys R Us behind us,” Hasbro Chairman and CEO Brian Goldner said in a prepared statement.<\/p>\n
For the period ended April 1, Hasbro Inc.’s revenue dropped to $716.3 million, from $849.7 million. That’s well below the $824.7 million that analysts surveyed by Zacks Investment Research forecast.<\/p>\n
Shares tumbled more than 8 per cent before the market opened and shares of Mattel Inc., which reports earnings Thursday, fell almost as much.<\/p>\n
Mattel’s CEO Margo Georgiadis is stepping down, the company said last week.<\/p>\n
Hasbro, which makes toys like My Little Pony and Transformers — lost $112.5 million, or 90 cents per share. A year earlier the Pawtucket, Rhode Island, company made $68.6 million, or 54 cents per share. There was one less week in the current quarter than a year ago.<\/p>\n
Adjusted for one-time costs and pretax expenses, earnings were 10 cents per share, less than a third of the 31 cents that Wall Street had expected.<\/p>\n
———-<\/p>\n
Elements of this story were generated by Automated Insights (http:\/\/automatedinsights.com\/ap<\/a>) using data from Zacks Investment Research. Access a Zacks stock report on HAS at https:\/\/www.zacks.com\/ap\/HAS<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" PAWTUCKET, R.I. — The repercussions from the demise of Toys R Us have begun to ripple outward beginning with Hasbro, which reported a loss and plunging revenue Monday for its first quarter. Toys R Us, hammered by shifting consumer trends, is shuttering the 700 stores it has left, depriving Hasbro, Mattel and other toy makers […]<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/6684"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=6684"}],"version-history":[{"count":1,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/6684\/revisions"}],"predecessor-version":[{"id":6685,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/6684\/revisions\/6685"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=6684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=6684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=6684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}