YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Officials with toymaker Hasbro Inc. blamed the Toys R Us bankruptcy for declining sales and profits.
The company reported a net loss of $112.5 million, compared with earnings of $68.6 million a year earlier. Revenue dropped 16 percent to $716.3 million.
"We are working to put the near-term disruption from Toys R Us behind us," Hasbro CEO Brian Goldner said. "Our global retailers view this as an opportunity in a key consumer category and are partnering with Hasbro to develop growth plans for our brands."
Read more from Reuters.
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