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Stock impact report

Hasbro hurt by Toys 'R' Us bankruptcy [CNNMoney.com]

Mattel, Inc. (MAT) 
Last mattel, inc. earnings: 2/13 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.shareholder.com/mattel
Company Research Source: CNNMoney.com
Hasbro hurt by Toys 'R' Us bankruptcyIt looks like it's going to be a blue Christmas for toy maker Hasbro -- and the rest of the industry too.Shares of Hasbro(HAS) plunged nearly 10% Monday after the company said that sales for the all-important holiday fourth quarter will be lower than expected, largely due to the recent bankruptcy of Toys 'R' Us.Hasbro did report sales and profits for the third quarter that topped forecasts.But chief financial officer Deborah Thomas warned that sales would be up only 4% to 7% from a year ago in the fourth quarter because of the Toys 'R' Us turmoil and weakness in some international markets. Wall Street was expecting growth of 11.5%.The bankruptcy of Toys 'R' Us is yet another sign of the rise ofAmazon (AMZN, Tech30)as well, as more consumers opt to buy their holiday toys on their smartphones instead of fighting crowds at the mall on Black Friday and throughout December.Hasbro's bad news hit rival Mattel too. Mattel's(MAT) shares fell 4% Monday.Even Show less Read more
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