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Hasbro Reports Q4 Sales Decline Unexpectedly Date: 1/18/2011 |
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Toy giant (and WotC parent) Hasbro announced that its Q4 2010 sales did not meet expectations, and were down vs. the previous year. The company said that its Q4 sales were $1.3 billion in 2010 vs. $1.5 billion in 2009, due to declines in U.S. and Canada net revenues (international revenues were up). It attributed the decline in revenues to a decline in U.S. consumer demand late in Q4. As a result of the Q4 sales decline, Hasbro?s full year sales were also down in 2010 vs. the previous year. Earnings are still expected to be up (due to expense control) by a modest amount. |
| Source: ICv2 |
