Store closures, product shortages and lower retail inventory hampered Hasbro in the second quarter, as the company posted weaker-than-expected earnings on Monday.
Hasbro reported second-quarter earnings of 2 cents per share, excluding items, on revenue of $860 million. Analysts had expected earnings per share of 23 cents on revenue of $992 million.
While Hasbro saw strong demand for its products between April and June, the company faced challenges globally due to closures in its supply chain and the shutdown of movie theaters.Shares of the company were down more than 3% in premarket trading Monday.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
29 Comfy Pairs Of Shorts For Folks Who Need To Let Their Legs BreathePerhaps that high-school gym teacher who wore shorts year-round had a good idea.
Read more »
A Teacher Just Nailed Why Going Back to School Amid COVID-19 Is a 'Lose/Lose Situation'A middle school teacher shared why she won't sacrifice herself or her family's health when school resumes amid COVID-19 in the fall.
Read more »
Travel stocks weigh on Europe after UK quarantine move on SpainEuropean shares fell on Monday as travel stocks slumped in early deals after Britain imposed a quarantine on travellers returning from Spain because of a surge of coronavirus cases.
Read more »