Ultimate Action Figure News and Reviews Source for DC Comics, GI Joe, Marvel, MOTU, Star Wars, Transformers and All Your Favorite Classic Toys Every Day

ALL SDCC 2014 DC Comics GI Joe Marvel MOTU Star Wars Transformers Customs Reviews Buy / Sell Forums
 
facebook twitter RSS
 
Hasbro Fourth Quarter Revenues Miss The Mark - More Layoffs Planned?
Hasbro: Jay Cochran - 2013.01.25
Hasbro today released their preliminary financial results for the fourth quarter and full-year 2012. In the report they indicate that due to a drop in consumer demand during the holiday season they missed their 4th quarter projections:

"We had a number of strong product initiatives, but consumer demand through much of the holiday season was less than anticipated in both the U. S. and certain international markets. As a result, fourth quarter revenues did not meet our expectations. Despite the lower than anticipated revenue, we grew our operating profit margin and earnings per share absent fourth quarter restructuring charges and the impact of foreign exchange,"

The report goes on to indicate that a 10% workforce reduction seems to be forthcoming:

The Company expects to incur charges of approximately $37 million pre-tax in 2012, and an additional estimated $20-$30 million in 2013 associated with these planned actions to reduce ongoing expenses, including an approximate 10% reduction in workforce, facility consolidation and process improvements. These actions are anticipated to begin to deliver savings in 2013, with full recognition in 2015 as all aspects of the plan are implemented.

Click here to read the entire report.


Find it @  Big Bad Toy Store - Ebay

Comments

blog comments powered by Disqus




MORE Hasbro NEWS & UPDATES

01:17 PM - 2014.11.19
02:27 PM - 2014.06.30
04:02 PM - 2014.06.25
10:19 AM - 2013.10.30
11:11 AM - 2013.10.21
08:06 AM - 2013.09.24
01:13 PM - 2013.07.16
08:14 AM - 2013.07.16
08:07 AM - 2013.06.18
10:30 AM - 2013.06.17






- ADVERTISE HERE -





ENI
About
Entertainment News International (ENI) is the popular culture network for fans all around the world. Get the scoop on all the popular comics, games, movies, toys, and more every day!
Sites
Action Figures
Comics
Classifieds
Entertainment
Reset Nation
 
Marvel
Podcasts
Star Wars
Transformers
Links
Support
This site and content are copyright © 2014 Entertainment News International - All other rights revert to their lawful owners
This website is provided for the general public as an information and entertainment resource. If you feel this site has infringed on your legal rights, please contact us