Hasbro: incurs losses with Toys"R"Us liquidation

(CercleFinance.com) - US toymaker Hasbro reported quarterly losses on Monday due to the liquidation of the toy store chain Toys"R"Us in the US and UK.


The group's first-quarter net loss reached 112.5 million dollars, or 0.90 dollar per share, compared to net earnings of 68.6 million dollars, or 0.54 dollar per share, in 2017.

Net revenues fell by 16% to 716.3 million dollars.

Along with the liquidation of Toys"R"Us, Hasbro has been impacted by uncertainty in other operations, as well as retail inventory overhang, primarily in Europe, the group said.

In a press release, Hasbro said it remains on track to meet its target of generating operating cash flow of 600 million dollars to 700 million dollars this year.

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