The toymaker said the drop was a result of the Toys “R” Us liquidation, as well as “uncertainty” in some operations and excess inventory in Europe. The demise of Toys “R” Us Inc. took a toll on Hasbro Inc. last quarter and that isn’t likely to abate until later this year. “We’re working aggressively around the world to put the impact of Toys ‘R’ Us behind us,” Goldner said. Takes time“The opportunity to absorb all of the Toys ‘R’ business is present” for our remaining retail partners,” Goldner said. Excluding the Toys “R” Us costs and other items, profit dropped to 10 cents a share, compared with projections for 32 cents.

Source: thestar April 23, 2018 12:33 UTC