Stock Groups

Hasbro warns supply chain bottlenecks to hit holiday sales -Breaking

[ad_1]

© Reuters. FILEPHOTO: This illustration photograph August 13th 2017 shows a Monopoly game from Hasbro Gaming. REUTERS/Thomas White/Illustration/File Photo GLOBAL BUSINESS WEEK AHEAD

(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.

Disclaimer Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this information. This includes data including charts and buy/sell signal signals. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.

[ad_2]