• Latest
  • Trending
  • All
  • News
  • Lifestyle
UPDATE 1-Hasbro misses profit estimates as lockdowns fuel production delays thumbnail

UPDATE 1-Hasbro misses profit estimates as lockdowns fuel production delays

July 27, 2020
White House Suggests ‘Assault Weapons Ban’ After Mass Shooting at Nashville School thumbnail

White House Suggests ‘Assault Weapons Ban’ After Mass Shooting at Nashville School

March 28, 2023
Dem Rep. Cohen: 'Hard' to Serve with GOP So 'Attached to Guns,' They’re 'Part of the Danger' thumbnail

Dem Rep. Cohen: ‘Hard’ to Serve with GOP So ‘Attached to Guns,’ They’re ‘Part of the Danger’

March 28, 2023
Analysis-Banking woes, Fed keep investors on edge in nervous U.S. stock market thumbnail

Analysis-Banking woes, Fed keep investors on edge in nervous U.S. stock market

March 28, 2023
Marjorie Taylor Greene Says She Was 'Assaulted' by Whistle at DC Jail Visit thumbnail

Marjorie Taylor Greene Says She Was ‘Assaulted’ by Whistle at DC Jail Visit

March 27, 2023
Boston Red Sox Star Achieves Big Spring Training Milestone Less Than 3 Weeks After Gruesome Injury thumbnail

Boston Red Sox Star Achieves Big Spring Training Milestone Less Than 3 Weeks After Gruesome Injury

March 27, 2023
A better solution to fraud and chargebacks than regulation thumbnail

A better solution to fraud and chargebacks than regulation

March 27, 2023
How can you tell a dolphin’s age? Check its freckles. thumbnail

How can you tell a dolphin’s age? Check its freckles.

March 26, 2023
State Prison Sentences in the U.S. Are Getting Longer—But Not Necessarily Keeping Us Safer thumbnail

State Prison Sentences in the U.S. Are Getting Longer—But Not Necessarily Keeping Us Safer

March 26, 2023
California wants Medicaid to cover 6 months of rent thumbnail

California wants Medicaid to cover 6 months of rent

March 26, 2023
House GOP eyes a new demand in debt talks: Energy permitting thumbnail

House GOP eyes a new demand in debt talks: Energy permitting

March 25, 2023
Why Biden's not talking about Trump’s potential indictment thumbnail

Why Biden’s not talking about Trump’s potential indictment

March 25, 2023
Should the Boston Cetics bench Marcus Smart? thumbnail

Should the Boston Cetics bench Marcus Smart?

March 24, 2023
  • About
  • Advertise
  • Privacy & Policy
  • Contact
  • Donate
Tuesday, March 28, 2023
66 °f
Wellfleet
58 ° Tue
63 ° Wed
68 ° Thu
61 ° Fri
  • Login
  • Register
FREE Cape Cod News
DONATE
  • FREE Cape Cod News
  • News
    • News
    • Cape Cod News
    • Massachusetts
    • Breaking News
    • Cape Cod Weather
    • Storm Watch
    • Environment
  • Politics
    • democrats
    • republicans
  • Business
    • business
    • cryptocurrency
    • economy
    • money
    • Real Estate
    • Tech
  • World
  • Entertainment
  • Lifestyle
  • Photos
    • Orleans
    • Eastham
    • Wellfleet
    • Truro
    • Provincetown
    • Brewster
    • Chatham
  • Videos
No Result
View All Result
Free Cape Cod News
No Result
View All Result
  • FREE Cape Cod News
  • News
  • Politics
  • Business
  • World
  • Entertainment
  • Lifestyle
  • Photos
  • Videos
Home Entertainment Movies

UPDATE 1-Hasbro misses profit estimates as lockdowns fuel production delays

FREE Cape Cod News by FREE Cape Cod News
July 27, 2020
in Movies, Things To Do
Reading Time: 2 mins read
Donate
0
UPDATE 1-Hasbro misses profit estimates as lockdowns fuel production delays thumbnail
634
SHARES
1.4k
VIEWS
Share on TwitterShare on Facebook

(Reuters) – Hasbro Inc (HAS.O) missed analysts’ estimates for quarterly earnings and revenue on Monday, as production shutdowns due to the COVID-19 pandemic led to shortages of the company’s board games.

Shares fell 6%, taking losses for the year to about 31% as the toymaker has struggled with store closures, movie and TV production delays that have hit its Entertainment One unit, and a drought of big-budget releases linked to its action figures.

A surge in demand for “Scrabble”, “Jenga” and “Twister” board games from stuck-at-home families looking for entertainment and ways to keep kids engaged has been a bright spot for Hasbro.

In the second quarter, however, factory closures in the United States, Ireland and India due to lockdowns disrupted supply just as toy stores reopened, triggering a 30% slump in net revenue in the United States and Canada.

In contrast, rival Mattel Inc (MAT.O) reported a 2% rise in North American net sales on resurgent demand for its Barbie dolls.

Hasbro expects production to catch up by the end of the current quarter for a “good” holiday season, but industry experts were not enthused.

“Sales of games and puzzles are up 46% this year, as a lot of families loaded up on those. So, retailers are being cautious about not being overstocked as they know they won’t be able to meet those sales numbers in 2021,” said James Zahn, senior editor at trade magazine “The Toy Book”.

Hasbro expects strong “Star Wars” toy sales toward the end of the year from the second season of “The Mandalorian” on Disney+ and a planned animatronic “Baby Yoda” figure.

FILE PHOTO: A Monopoly board game by Hasbro Gaming is seen in this illustration photo August 13, 2017. REUTERS/Thomas White/Illustration

Net revenue fell 12.6% to $860.3 million and missed estimate of $992.2 million, according to Refinitiv data.

Revenue for Entertainment One, the company behind “Peppa Pig”, fell 30%.

Excluding items, Hasbro earned 2 cents per share, falling short of estimates of 23 cents.

Reporting by Uday Sampath in Bengaluru; Editing by Sriraj Kalluvila

FREE Digital Newspaper Subscription!
Sign up for your free digital subscription. The FREE Cape Cod News

Unsubscribe
FREE Cape Cod News

FREE Cape Cod News

Free Cape Cod News is what's happening in the Cape Cod, U.S and World & what people are talking about right now. Local newspaper. Stay in the know. Subscribe to get notified about our latest news.

Related Posts

Who Was the Boston Strangler? The True Story Behind Keira Knightley's Film thumbnail
Entertainment

Who Was the Boston Strangler? The True Story Behind Keira Knightley’s Film

by FREE Cape Cod News
March 19, 2023
With 'Air,' Ben Affleck tells lesser-known Michael Jordan story thumbnail
Entertainment

With ‘Air,’ Ben Affleck tells lesser-known Michael Jordan story

by FREE Cape Cod News
February 18, 2023
Pamela Anderson says she and Kid Rock broke up over her 'Borat' cameo thumbnail
Entertainment

Pamela Anderson says she and Kid Rock broke up over her ‘Borat’ cameo

by FREE Cape Cod News
February 2, 2023
‘American Horror Story’ Production Companies Sued by Family of Driver Who Died of COVID-19 After Working on Set thumbnail
Entertainment

‘American Horror Story’ Production Companies Sued by Family of Driver Who Died of COVID-19 After Working on Set

by FREE Cape Cod News
January 8, 2023
Load More
Please login to join discussion

Follow Us on Twitter

FREE Cape Cod News - Your source for local Cape Cod news, latest breaking U.S. and World news. Every day, all day. Subscribe for your favorite categories.

  • Trending
  • Comments
  • Latest
Great White Shark - Free Cape Cod News

Fisherman sees 10-foot great white shark 2 days in a row off Cape Cod

September 13, 2020
Dem Rep. Cohen: 'Hard' to Serve with GOP So 'Attached to Guns,' They’re 'Part of the Danger' thumbnail

Dem Rep. Cohen: ‘Hard’ to Serve with GOP So ‘Attached to Guns,’ They’re ‘Part of the Danger’

March 28, 2023
Marjorie Taylor Greene Says She Was 'Assaulted' by Whistle at DC Jail Visit thumbnail

Marjorie Taylor Greene Says She Was ‘Assaulted’ by Whistle at DC Jail Visit

March 27, 2023
White House Suggests ‘Assault Weapons Ban’ After Mass Shooting at Nashville School thumbnail

White House Suggests ‘Assault Weapons Ban’ After Mass Shooting at Nashville School

March 28, 2023
Dem Rep. Cohen: 'Hard' to Serve with GOP So 'Attached to Guns,' They’re 'Part of the Danger' thumbnail

Dem Rep. Cohen: ‘Hard’ to Serve with GOP So ‘Attached to Guns,’ They’re ‘Part of the Danger’

March 28, 2023
Analysis-Banking woes, Fed keep investors on edge in nervous U.S. stock market thumbnail

Analysis-Banking woes, Fed keep investors on edge in nervous U.S. stock market

March 28, 2023

FREE Cape Cod News On Twitter

Today’s News

  • White House Suggests ‘Assault Weapons Ban’ After Mass Shooting at Nashville School March 28, 2023
  • Dem Rep. Cohen: ‘Hard’ to Serve with GOP So ‘Attached to Guns,’ They’re ‘Part of the Danger’ March 28, 2023
  • Analysis-Banking woes, Fed keep investors on edge in nervous U.S. stock market March 28, 2023
  • Marjorie Taylor Greene Says She Was ‘Assaulted’ by Whistle at DC Jail Visit March 27, 2023
  • Boston Red Sox Star Achieves Big Spring Training Milestone Less Than 3 Weeks After Gruesome Injury March 27, 2023
FREE Cape Cod News

Copyright © 2022 Free Cape Cod News

Navigate Site

  • About
  • Advertise
  • Privacy & Policy
  • Contact
  • Donate

Follow Us

No Result
View All Result
  • FREE Cape Cod News
  • News
    • News
    • Cape Cod News
    • Massachusetts
    • Breaking News
    • Cape Cod Weather
    • Storm Watch
    • Environment
  • Politics
    • democrats
    • republicans
  • Business
    • business
    • cryptocurrency
    • economy
    • money
    • Real Estate
    • Tech
  • World
  • Entertainment
  • Lifestyle
  • Photos
    • Orleans
    • Eastham
    • Wellfleet
    • Truro
    • Provincetown
    • Brewster
    • Chatham
  • Videos
  • Login
  • Sign Up

Copyright © 2022 Free Cape Cod News

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist