Store closures, product shortages and lower retail inventory hampered Hasbro in the second quarter, as the company posted weaker-than-expected earnings on Monday.
Hasbro reported second-quarter earnings of 2 cents per share, excluding items, on revenue of $860 million. Analysts had expected earnings per share of 23 cents on revenue of $992 million.
While Hasbro saw strong demand for its products between April and June, the company faced challenges globally due to closures in its supply chain and the shutdown of movie theaters.Shares of the company were down more than 3% in premarket trading Monday.
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