(CercleFinance.com) – Hasbro announced on Thursday a downward revision of its forecasts for 2023 after suffering an operational loss in the third quarter.
The American games and toy manufacturer now says it expects a decline of 13% to 15% in its annual turnover due to weak sales of consumer products.
The group also indicates that it expects adjusted EBITDA of between $900 and $950 million for the entire financial year.
In the third quarter, Hasbro suffered an operating loss of $169.5 million for revenue down 10% to $1.5 billion.
Here again, the 18% decline in its sales of general public toys could not be offset by the strength of its digital and role-playing games ‘Wizards of the Coast’ (+40%).
Following these announcements, the stock was expected to fall by 11% on the New York Stock Exchange.
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