Toy maker Hasbro Inc.'s holiday-season sales were likely among "the weakest in the North American toy industry," an analyst said on Wednesday.
Toy maker Hasbro Inc.’s holiday-season sales were likely among “the weakest in the North American toy industry,” an analyst said Wednesday, citing a lack of enthusiasm for things like Play-Doh, action figures, Nerf and My Little Pony that will put more pressure on the company’s performance this year.
“In particular, HAS is still feeling a COVID hangover in games and Play-Doh,” Johnson said in a research note Wednesday. “With most families having a fully stocked cupboard of games, especially the Hasbro classics, there was little demand for new ones.” He also cut his earnings-per-share estimates on the company for 2022 and 2023 — to $4.15 from $4.50 for 2022, and $4.85 from $5.05 for this year. Shares of Hasbro finished the day 0.3% higher.
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