) fell well below Wall Street estimates for quarterly profit on Tuesday, as the toy maker wrestled with higher shipping and warehousing costs due to U.S. tariffs on Chinese imports, sending its shares down about 18%.
The protracted trade war between the world’s two largest economies has been weighing on many U.S. companies that have exposure to China and they have responded by taking various steps ranging from price hikes to shifting production to other countries. “Obviously, the tariff and tariff environment has created some short-term disruption to our growth trajectory,” Hasbro Chief Executive Officer Brian Goldner said on a post earnings call.
Hasbro also warned of price hikes if the Dec. 15 tariffs go into effect. It has already raised prices on some of its products to cushion the blow from tariffs that went into effect in September.
Worst toy company ever. Cheap, shoddy, plastic rubbish. Ruined iconic toys by their cost cutting measures to produce shadows of former classics. Good riddance.
What a horrible way to lose a iconic toy.
Merry Christmas, love Donald Trump
Merry Christmas!
'Do not pass Go, do not collect $200'
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Toymaker Hasbro shares drop more than 10% as tariffs boosts costs and earnings fall shortHasbro fell short of Wall Street estimates for third-quarter revenue on Tuesday, hit by weak demand for its toys such as Nerf guns, My Little Pony and Play-Doh. Wait, what? Tariffs raise costs and hurt revenues? Who knew? scottlincicome Hasbro: move your production to non-tariff country, which there are plenty of in Asia. And stop morning and groaning while supporting live OrganHarvesters in China! Have you no shame? All will bankrupt soon !!! Because you never fight for the trademark and be serious with “pirate act” . Here in South East Asia ... Lego , DC / Disney carton merchandising item ! All fake ..... again !China !!!
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