You can now read 5 articles in a month for free on Read as much as you want anywhere and anytime for just 99¢.

Hasbro profit falls during holiday season

NEW YORK — Hasbro Inc.’s net income fell 6 percent in the fourth quarter as the toy maker faced a challenging holiday season and incurred restructuring charges.

The Pawtucket, R.I., company, which makes Monopoly and Nerf, had said last month that its revenue failed to meet expectations. It plans to cut about 10 percent of its workforce and consolidate facilities.

Continue reading below

Toy makers are facing a slowdown as mobile devices and electronics steal attention from toys. Making matters worse, the companies are more vulnerable to the weak economic climate, because it’s easier for people to cut spending for dolls and games than for other things.

In 2012, US toy sales fell slightly to $16.5 billion from $16.6 billion, according to the research firm NPD Group.

For the October-to-December period, Hasbro earned $130.3 million, or 99 cents per share. That compares with $139.1 million, or $1.06, a year earlier. Revenue slipped to $1.28 billion from $1.33 ­billion.

Loading comments...
Want each day's news headlines delivered fresh to your
inbox every morning? Just connect with us
in one of the following ways:
Please enter a valid email will never post anything without asking.
Privacy Policy
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of
Marketing image of