Hasbro’s Sales Take a Hit From Collapse of Toys ‘R’ Us
By Paul Ziobro | April 23, 2018 10:14 a.m. ET
Hasbro Inc. on Monday blamed a 16% decline in first-quarter sales on the liquidation of Toys “R” Us Inc. and said it has sped up an overhaul of its sales organization for a world where more toys are sold online.
Toys “R” Us is closing stores in the U.S. and other markets, causing big drops in sales for Hasbro toys like Transformer action figures and My Little Pony dolls. The retailer, which filed for bankruptcy in September, was done in by a lofty debt load and difficulty competing amid the rise of Amazon.com Inc. and online…
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