Hasbro to cut 15% of workforce in 2023, estimates dour holiday quarter [Reuters]
Mattel, Inc. (MAT)
Last mattel, inc. earnings: 2/13 04:05 pm
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Source: Reuters
Shares of the Transformers toy maker fell nearly 7% to $59.50 in extended trading after the company said it would eliminate about 1,000 full-time positions globally in a bid to cut costs. Shares of rival Mattel Inc (MAT.O) also slipped about 2%. Hasbro said the job cuts would start to take effect within the next several weeks, adding the reductions were "necessary to return our business to a competitive, industry-leading position." The maker of "Magic: The Gathering" game in October warned that demand was starting to slip ahead of the holiday season, as the company's moves to raise prices to counter inflation prompted customers to cut spending on its products. "Despite strong growth in Wizards of the Coast and Digital Gaming... our consumer products business underperformed in the fourth quarter against the backdrop of a challenging holiday consumer environment," Chief Executive Officer Chris Cocks said on Thursday. The Monopoly maker estimated a 26% slump in revenue from it
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MAT
Earnings
- 2/7/24 - Miss
MAT
Sec Filings
- 4/17/24 - Form ARS
- 4/17/24 - Form DEF
- 4/17/24 - Form DEFA14A
- MAT's page on the SEC website