Market Commentary and Intraday News
News Summary: Hasbro 2Q net income falls
303 days ago
By The Associated Press
THE NEWS: Toy maker Hasbro Inc. said Monday its second-quarter net income dropped 25 percent on weak sales as Americans held off on buying toys like Transformers and Scrabble until later in the year. But higher prices and cost cutting helped net income beat analysts' earnings expectations.
THE CONTEXT: The second quarter is a seasonally small one for toy makers, which make up the bulk of their sales during the second half of the year and the holidays.
WHAT'S NEXT: Hasbro said some likely popular holiday toys include Baby Butterscotch, a miniature horse, and Baby Wanna Walk from Baby Alive.
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