Hasbro warns supply chain bottlenecks to hit holiday sales -Breaking
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(Reuters] -Hasbro Inc. said Tuesday that it lost about $100M in toys orders due to disruptions in its global supply chains. It also warned of a possible further impact during this holiday shopping season.
The demand for toys has increased over the past year. However, there have been fears that the supply of toys will be short-circuited due to factory shut downs, insufficient container ships and delays at ports.
Hasbro (NASDAQ 🙂 whose chief executive officer Brian Goldner passed away earlier in the month stated that it expected 2021 revenues to increase 13%-16% but could be affected by supply shortages.
According to Refinitiv IBES data, the company’s third-quarter net revenue increased to $1.97billion from $1.78billion a year ago. This was consistent with analysts’ average estimates.
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