Hasbro warns on Q4 sales

Investor's Business Daily

The toy maker said its Q4 revenue failed to meet expectations due to weak holiday sales. As a result, Hasbro (HAS) plans to cut about 10% of its 5,500-employee workforce and consolidate facilities to lower expenses. It reports Q4 results Feb. 7 and sees Q4 revenue of about $1.28 bil, missing Wall Street's target of $1.4 bil. Shares fell 3% to 37.31.

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