Hasbro holiday sales outlook dampened by Toys R Us bankruptcy
- 7 years ago
It seems that Toys R Us declaring bankruptcy has affected the holiday sales forecast for Hasbro. Hasbro was saddled with $60 million in unsecured claims for payment after Toys R Us went bankrupt. Hasbro's estimate for the fourth quarter of an increase of 4 to 7 percent over last year's $1.63 billion fell below the estimates of Wall Street investors. Shares of Hasbro were down about 8 percent in morning trading.