With lights from Toys R Us dimmed, sales plunge at Hasbro

PAWTUCKET, R.I. -- The repercussions from the demise of Toys R Us have begun to ripple outward beginning with Hasbro, which is reporting a loss and plunging revenue in its first quarter.

The toy maker swung to a loss of $112.5 million, or 90 cents per share. Per-share earnings, adjusted for one-time costs, were 10 cents, less than a third of the 31 cents per share that Wall Street expected, according to a poll by Zacks Investment Research.

Revenue tumbled to $716.3 million, well below projections from industry analysts for $824.7 million.

Shares of Hasbro Inc. slid 6 per cent before the opening bell Monday. Mattel Inc. fell 6 per cent.

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