Potential industry slowdown in toy sales weighs on shares of Hasbro and Mattel

FILE - The Hasbro logo is seen on April 26, 2018, in New York. Hasbro’s third-quarter revenue performance missed Wall Street’s expectations and the company cut its full-year revenue outlook again as signs of a possible industry slowdown in toy sales heading into the holiday season weighs on jittery investors.

For the quarter, Hasbro’s revenue slipped to $1.5 billion from $1.68 billion. Analysts polled by Zacks Investment Research were looking for higher revenue of $1.64 billion.The Pawtucket, Rhode Island-based company now foresees full-year revenue falling 13% to 15%, driven by a softer toy outlook for its consumer products division, which includes toys, games, clothing, music and other categories.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Potential industry slowdown in toy sales weighs on shares of Hasbro and MattelHasbro’s third-quarter revenue performance missed Wall Street’s expectations and the company cut its full-year revenue outlook again as signs of a possible industry slowdown in toy sales heading into the holiday season weighs on jittery investors.
Source: ksatnews - 🏆 442. / 53 Read more »

Potential industry slowdown in toy sales weighs on shares of Hasbro and MattelHasbro’s third-quarter revenue performance missed Wall Street’s expectations and the company cut its full-year revenue outlook again as signs of a possible industry slowdown in toy sales heading into the holiday season weighs on jittery investors.
Source: wjxt4 - 🏆 246. / 63 Read more »