DIS - Hasbro Whiffs Ahead of Its 'Peppa Pig' Takeover
It's a tough time to be in the consumer sales business. The oft-cited trade war between the U.S. and China is raising expenses for many companies, and digital disruption and shifting consumer trends are creating headwinds to growth. That's the backdrop against which toymaker Hasbro (NASDAQ: HAS) reported its third-quarter 2019 results.
The good news was that the company continues to report profitability after a tough 2018 dealing with the loss of Toys R Us. The bad news? Turns out shares had priced in better results than what was reported leading into the all-important holiday shopping season. Toys, it seems, are old news. Digital and video entertainment is where it's at right now, and Hasbro's acquisition of the "Peppa Pig" cartoon is nearing completion.
Image source: Entertainment One/Peppa Pig.