AP News

News Summary: Hasbro 3Q net income falls


THE NEWS: Weakness in Hasbro Inc.'s boys and preschool categories globally and the stronger dollar pushed its third-quarter net income down by 4 percent.

THE CONTEXT: But the Pawtucket, R.I.-based company's adjusted results topped Wall Street's forecasts on Monday, and it remains confident heading into the critical holiday season, which is when toy makers can earn up to 40 percent of annual revenue. Retailers have been ordering toys cautiously this year to avoid oversupply.

WHAT'S NEXT: Hasbro said that it still expects its full-year earnings per share and revenue to climb, when stripping out the impact of foreign exchange rates.


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