Interim reports Toy giant Hasbro warns of Christmas store supply chain problems

Economic|Interim reports

American toy maker Hasbro says it lost $ 100 million (about $ 85 million) in toy orders in the third quarter due to global supply chain problems.

The company warned in its interim report that its sales could continue to suffer from supply chain problems during the important Christmas season for the company.

Hasbro manufactures, among other things, Transformers toys and Nerf foam ammunition as well as My Little Pony toys.

Hasbro told Reuters, according to news agency, that most of the toy orders lost in July-September have been delivered later and that its staff is working “around the clock” to deliver the toys. Among other things, the company has increased the use of air cargo.

Hasbro predicts that its revenue will grow by 13-16 percent this year. CFO of Hasbro Deborah Thomas said in the interim report that the company has orders to the extent that revenue could increase at the top end of the guidance fork, but delivery difficulties could mitigate growth.

About interest rate restrictions factory outages, a shortage of containers and congested ports have raised concerns that not enough toys will be available for delivery to shops for Christmas.

However, in an investor call, Hasbron Thomas assured that the company is prepared for the Christmas season and that there will be Hasbro toys and games on store shelves during this year’s Christmas gift season.

Last During the week, Hasbro’s rival Mattel raised its sales forecast for the current year. Mattel said it has several ways to increase production and acquire more shipping capacity to ensure strong Christmas sales.

Mattel is known for Barbie and Fisher-Price toys.

Hasbro’s revenue rose 11 percent to $ 1.97 billion in the third quarter. Adjusted net income rose five percent to $ 271.2 million.