Hasbro said Wednesday it expects its second quarter to take a hit from the coronavirus pandemic, but it expects to be ready for the holiday season.
The coronavirus pandemic has led to store closures due to country-wide restrictions on social interactions as well as global production shutdowns. Hasbro noted that it ended the first quarter with $1.2 billion in cash and has a revolving credit facility of $1.5 billion available, should it be needed.
The company swung to a net loss of $69.6 million, or 51 cents a share, from net income of $26.7 million, or 21 cents a share, in the year-ago period.
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