Investing.com – Hasbro took a striking Friday that weighed the consumer's discretionary sector after the toymaker's quarterly results dropped far below estimates due to Toys & # 39; R & # 39; Our bankruptcy.
Hasbro (NASDAQ 🙂 dropped 5% after reporting the fourth quarter of $ 1.33 on $ 1.39 billion revenue, missing estimates made by Investing.com for earnings of $ 1.58 a share of revenue of $ 1 , 52 billion.
Sales in the crucial holiday period did not live up to expectations as the battle from the closing of Toys & # 39; R & # 39; Us, one of the company's biggest consumer competitions, was worse than feared.
The poor performance comes amid growing concern that tablets can soon confer traditional toys as must-haves among children. But these fears are too early, even though Toys & # 39; R & # 39; Us was sent to the toy cemetery, according to market researcher NPD Group.
The decline in toy sales of 2% last year was "a solid performance after such a big shift in the detail landscape," says Julie Lennett, vice president and toy industry consultant at the NPD Group.
Hasbro's slate of toys from the blockbuster franchise for the coming year, including "Star Wars", "Frozen" and Marvel's "Avengers" offered a desire for market participants, as well as their partnership with commercial promoters like Amazon (NASDAQ). :).
CFRA, an independent research provider, upgraded its rating on Hasbro to stop selling, expressing optimism in its entertainment offerings and partnership with Amazon.
Rival toymaker Mattel (NASDAQ 🙂 navigated the impact of Toy & # 39; R & # 39; Our collapse as a strong sale of Barbie saw beat estimates made by Investing.com. Its shares rose 23%.
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