Hasbro sees strong 2011 despite lackluster quarter

Hasbro Inc , maker of Nerf foam toys and Transformers action figures, promised investors a "meaningful" rise in 2011 sales and earnings, despite missing profit estimates in the second quarter on higher costs.

The news came just days after larger rival Mattel Inc beat quarterly profit and sales estimates on strong sales of its Barbie dolls and toys based on the "Cars 2" movie. Hasbro shares were down 0.3 percent at $41.25 in premarket trading on Monday.

Hasbro has been spending more in recent quarters to boost its overseas presence and develop its new television channel, The Hub. It is also battling rising costs of plastics, packaging paper, freight and labor.

Read Full Article from Chicago Tribune

- Posted: 2011-07-18 12:08:09

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