Hasbro takes $100M hit as supply chain problems continue

Sharing is Caring!

Hasbro was missing $100 million worth of toys that were either stuck at ports or in warehouses that it had hoped to have by September, the company said in its most recent financial statement.

Supply chain disruptions, including port congestion, have forced the maker of Nerf blasters, Monopoly and Play-Doh to “work around the clock” to secure transport for its goods, the company said on an earnings call on Tuesday.

The majority of the $100 million worth of delayed toys arrived in October instead of in the quarter ended Sept. 26, putting a dent in Hasbro’s revenues.

Still, the Pawtucket, RI-based company — whose longtime chief executive Brian Goldner just lost his battle with cancer — beat Wall Street’s earnings expectations and delivered sales in line with estimates, led by a spike in the company’s entertainment division.

See also  It’s Beginning to Look a Lot like a Recession – Supply Chain Issues Before Christmas


See also  FTX: It takes a village to fail this big…

Views: 2

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.