The manufacturer of Monopoly and Dungeons & Dragons, Hasbro, performed worse than expected in the Christmas quarter due to low demand for games.
Sales fell by 23 percent to $1.29 billion, the US company announced on Tuesday. Analysts had expected $1.36 billion. For the year as a whole, Hasbro posted an operating loss of $1.54 (previous year: plus 0.41) billion, including depreciation of $1.3 billion, with a 15 percent decline in sales to five billion dollars. For 2024, the board expects a further decline in sales of seven to twelve percent in the consumer goods segment, which accounts for more than half of group sales. Hasbro forecast adjusted operating profit (Ebitda) of $925 million to $1 billion. In 2023, adjusted Ebitda was $709 million.
Hasbro shares lost 3.01 percent to $49.75 in NASDAQ trading.
Bangalore (Reuters)
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