Hasbro sales slip as families tire of playing with inflation

KIFI

Published October 18, 2022 8:28 AM

By MICHELLE CHAPMAN
AP Business Writer

Hasbro’s profit and sales slipped in the third quarter as families watched their spending on toys more closely with inflation cutting into budgets. CEO Chris Cocks says there is increasing sensitivity to rising prices for the company’s average customer. Hasbro earned $129.2 million in the period, down 49%. Revenue fell 15%. The strong dollar is also having a negative effect. The company said currency exchange knocked 3% off of quarterly revenue, or almost $54 million.

Article Topic Follows: AP National Business

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