3Q earnings reports of toy companies
The present economic crisis has hit the 3Q earnings of toy companies. We have Christmas coming up in 2 months’ time but analysts are not fully convinced that it will be enough to prop up sales.
The more inter-connected our global economies are, the more likely they tend to fall like dominos when anyone of them is badly affected. Even the toy companies are not spared from this bear market . . .
“Higher expenses cost toymaker Mattel dearly in the third quarter.”
“On Monday, Mattel (nyse: MAT - news - people ) reported its third-quarter earnings rose slightly, but not enough to beat analysts’ forecasts due to a litany of higher costs: substantial increases in resin prices, which is used heavily in toys, higher wages in China, a stronger Chinese currency and product-testing costs. By contrast, rival Hasbro (nyse: HAS - news - people ) beat expectations by a few pennies.”
Read the full report here.
“SAN FRANCISCO (MarketWatch) — Toy giant Hasbro reported Monday a 14% profit decline for the third quarter, topping Wall Street’s target, while larger rival Mattel Inc. posted a 1% rise in profit, below analysts’ average estimate.” Read the full report here.













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