Shares of toy maker Hasbro plummeted in premarket trading Monday after the company posted weaker-than-expected earnings following the liquidation of Toys R Us.
“As we discussed earlier in the year, our first quarter was expected to be difficult,” CEO Brian Goldner said in a statement Monday. “We are working to put the near-term disruption from Toys R Us behind us.”
Hasbro warned in February that residual effects from the bankruptcy of Toys R Us would weigh heavily on the brand for the first two quarters of 2018. Toys R Us said announced its liquidation last month.
…
Read the full article at: https://www.cnbc.com/2018/04/23/hasbro-reports-first-quarter-earnings-2018.html