{"id":40699,"date":"2013-01-26T11:39:00","date_gmt":"2013-01-26T11:39:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/hasbro-to-slash-10-workforce-in-fiscal-2013-revenue-outlook-for-2012-misses-streets-forecast-has\/40696\/"},"modified":"2013-01-26T11:39:00","modified_gmt":"2013-01-26T11:39:00","slug":"hasbro-to-slash-10-workforce-in-fiscal-2013-revenue-outlook-for-2012-misses-streets-forecast-has","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/hasbro-to-slash-10-workforce-in-fiscal-2013-revenue-outlook-for-2012-misses-streets-forecast-has\/40699\/","title":{"rendered":"Hasbro to Slash 10% Workforce in Fiscal 2013, Revenue Outlook for 2012 Misses Street\u2019s Forecast (HAS)"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p>Toymaker Hasbro Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=HAS\" target=\"_blank\" rel=\"noopener\">NASDAQ: HAS<\/a>) said on Friday that it will slash 10% of its total workforce in the current year as the company looks to cut costs in the wake of slackness in demand even as it warned that fiscal 2012 results will miss Wall Street\u2019s expectations.<\/p>\n<p><span id=\"more-40699\"><\/span><\/p>\n<p>Shares fell almost 3% to settle at $37.31 on Friday. The Company is scheduled to report its fiscal fourth quarter earnings on February 7.<\/p>\n<p>The Pawtucket, Rhode Island based Company, which is renowned for its brands such as, Transformers, GI Joe toys, Monopoly and Nerf, has now provided profit warning for the third successive year before reporting final full year results.<\/p>\n<p>The downbeat outlook from Hasbro also impacted its rivals\u2019 stocks on Friday. Shares of Mattel Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=MAT\" target=\"_blank\" rel=\"noopener\">NASDAQ: MAT<\/a>) fell 2.34%, those of Leapfrog Enterprises Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=LF\" target=\"_blank\" rel=\"noopener\">NYSE: LF<\/a>) plunged 4.15 while shares of Jakks Pacific (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=JAKK\" target=\"_blank\" rel=\"noopener\">NASDAQ: JAKK<\/a>) Inc dropped 1.1%.<\/p>\n<p>Lately, the toy industry has been under immense pressure due to a very wobbly macroeconomic environment in the U.S., which forced consumers to spend frugally. \u00a0Weakness in the European economy and growing usage of multi-purpose mobile devices has also impacted the demand for toys and games.<\/p>\n<p>As more and more children and parents remain hooked to smartphones and tablets, no time is left for them to play with physical toys.<\/p>\n<p>For Hasbro, the problem is even deeper. The demand for those categories, which Hasbro make, is declining in the U.S., its biggest market.<\/p>\n<p>According to the\u00a0 Wall Street Journal,\u00a0 a data provided NPD Group data showed that\u00a0 sales for games and puzzles and action figures was lackluster last year \u2014two categories which Hasbro focuses \u00a0with properties like Twister, Monopoly and Marvel-based action figures.<\/p>\n<p>For fiscal 2012, the Company expects adjusted earnings to come in the range of $2.73 a share to $2.75, Revenue is expected to shrink 4.7% to $4.09 billion.<\/p>\n<p>Analysts polled by Thomson Reuters had most recently forecasted earnings of $2.85 on revenue of $4.21 billion.<\/p>\n<div class=\"nr_clear\"><\/div>\n<div id=\"nrelate_popular_2\" class=\"nrelate nrelate_popular nrelate_default nr_1col nr_text\"><\/div>\n<p>\t<!--[if IE 6]>\n\t\t<script type=\"text\/javascript\">jQuery('.nrelate_default').removeClass('nrelate_default');<\/script>\n\t<![endif]--><\/p>\n<p>\t<script type=\"text\/javascript\">\n\t\/* <![CDATA[ *\/\n\t\tnRelate.domain = \"www2.thestockmarketwatch.com%2Fstock-market-news\";\n\t\tvar entity_decoded_nr_mp_url = jQuery('<span\/>').html(\"https:\/\/web.archive.org\/web\/20130130074649\/http:\/\/api.nrelate.com\/mpw_wp\/0.51.2\/?tag=nrelate_popular&domain=www2.thestockmarketwatch.com%2Fstock-market-news&url=http%3A%2F%2Fwww2.thestockmarketwatch.com%2Fstock-market-news%2Fhasbro-to-slash-10-workforce-in-fiscal-2013-revenue-outlook-for-2012-misses-streets-forecast-has%2F40699&nr_div_number=2&maxageposts=7200&increment=1\").text();\n\t\tnRelate.getNrelatePosts(entity_decoded_nr_mp_url);\n\t\/* ]]&gt; *\/\n\t<\/script>\n\n\n<div class=\"nr_clear\"><\/div>\n\n\n<script id=\"mNCC\" language=\"javascript\">  medianet_width='600';  medianet_height= '250';  medianet_crid='814932888';  <\/script>  <script id=\"mNSC\" src=\"https:\/\/web.archive.org\/web\/20130130074649js_\/http:\/\/contextual.media.net\/nmedianet.js?cid=8CUT71M67\" language=\"javascript\"><\/script> \n\n\n\n\n<!-- AddThis Button BEGIN -->\n\n\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a>\n<a class=\"addthis_button_preferred_2\"><\/a>\n<a class=\"addthis_button_preferred_3\"><\/a>\n<a class=\"addthis_button_preferred_4\"><\/a>\n<a class=\"addthis_button_compact\"><\/a>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n\n\n<script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script>\n<!-- AddThis Button END -->\n\n\n\n\n<p>More Posts by this author<\/p>\n\n\n\n<ul>\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/market-update-after-hours-january-29\/40833\">\nMarket Update After Hours January 29<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/d-r-horton-shares-surge-on-q1-results-dhi\/40828\">\nD.R. 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An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/div>\n\n\n<\/td>\n\n<\/tr>\n\n<\/table>\n\n\n\n\n\n\n\n<!--script type=\"text\/javascript\">\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\n<\/script>\n<script type=\"text\/javascript\"\nsrc=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script-->\n\n\t\t\t\t\t\t\n\n\t\n\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Toymaker Hasbro Inc. (NASDAQ: HAS) said on Friday that it will slash 10% of its total workforce in the current [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[6],"tags":[828,1121,1821,2175],"class_list":["post-40699","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hot-stocks-to-watch","tag-amat","tag-cdglf","tag-approaching-congestion-resistance-near-all-time-highs-of-the-secular-bull-market-from-early-last-decade-the-index-has-been-effectively-confined-to-a-trading-range-between-1","tag-jakk"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/40699","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=40699"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/40699\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50312"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=40699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=40699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=40699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}