Hasbro warns of Q4 losses due to Toys 'R' Us bankruptcy
CNN reports that Hasbro (among other toy companies) is expecting losses close to 10% this quarter due in part to the recently announced Toys 'R' Us bankruptcy. Hasbro has been reporting good sales, however the article states:
"...chief financial officer Deborah Thomas warned that sales would be up only 4% to 7% from a year ago in the fourth quarter because of the Toys 'R' Us turmoil and weakness in some international markets. Wall Street was expecting growth of 11.5%."
While this may sound dire, the article also makes it a point to note that Hasbro stock is "...still up more than 15% this year, despite Monday's plunge.". Based on anecdotal evidence from fans, Transformers figures have sold very well over the past couple of years, with entire waves of "Combiner Wars" and "Titans Return" often disappearing off shelves quickly with "Robots in Disguise" following behind. Even certain "Rescue Bots" became hard to find after a couple months after release.
You can read the entire article here.