April 23, 2018 / 10:39 AM / 5 months ago

Hasbro blames Toys 'R' Us as sales sink

April 23 (Reuters) - Hasbro Inc reported a 15.7 percent fall in quarterly revenue on Monday, blaming the liquidation of Toys ‘R’ Us and unsold inventory in Europe.

Net loss attributable to Hasbro was $112.5 million, or 90 cents per share, in the first quarter ended April 1, compared with a profit of $68.6 million, or 54 cents per share, a year earlier.

The company’s revenue fell to $716.3 million from $849.7 million. (Reporting by Aishwarya Venugopal and Nivedita Balu in Bengaluru; Editing by Anil D’Silva)

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