Hasbro Inc reported a surprise fall in quarterly revenue

The company’s shares fell 4.2 percent to $90 before the bell. The maker of My Little Pony and Nerf guns warned last October of weak holiday sales due to the bankruptcy of retailer Toys ‘R’ Us.

Toymaker Hasbro Inc reported a surprise fall in quarterly revenue on Wednesday, hit by a decline in sales of its toys based on the Star Wars franchise in the holiday season.

The company’s shares fell 4.2 percent to $90 before the bell. The maker of My Little Pony and Nerf guns warned last October of weak holiday sales due to the bankruptcy of retailer Toys ‘R’ Us, reports Reuters.

A Monopoly board game by Hasbro Gaming is seen in this illustration photo

Net revenue from the company’s partner brands, which includes toys based on movie franchises such as Star Wars and Marvel superheroes, fell 21 percent to $342.9 million.

The Pawtucket, Rhode Island-based company’s revenue fell 2.1 percent to $1.6 billion, while analysts had expected it to rise to $1.72 billion. Excluding items, the company earned $2.30 per share.

Hasbro reported a net loss attributable to the company of $5.3 million, or 4 cents per share, in the fourth quarter ended Dec. 31, due to a $296.5 million charge related to the U.S. tax overhaul. A year earlier, the company posted a profit of $192.7 million, or $1.52 per share.

Avatar

This article has been posted by a News Hour Correspondent. For queries, please contact through [email protected]
No Comments

Translate this News

Join the Facebook Group

Click here to join the Facebook group of News Hour

Popular Posts

Advertisement

News of the Month

February 2018
S M T W T F S
« Jan   Mar »
 123
45678910
11121314151617
18192021222324
25262728  
Scroll Up
%d bloggers like this: