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Hasbro HAS earnings Q2 2020 fall short, shares tumble

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The board game Monopoly by toymaker Hasbro at a toy store in New York City.

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Store closures, product shortages and lower retail inventory hampered Hasbro in the second quarter, as the company dealt with the fallout of the global coronavirus pandemic.

Despite strong demand for toys in the quarter, Hasbro’s revenue fell 29% on a pro forma basis. 

Shares of the company were down about 11% in premarket trading Monday, on the weaker-than-expected results. 

For the quarter ended June 28, Hasbro posted a net loss of $33.9 million, or 25 cents per share, compared with a profit of $13.4 million, or 11 cents per share, a year ago.

Excluding items, Hasbro 2 cents a share. Analysts surveyed…



Source cnbc.com

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