Why Hasbro Stock Was Down This Week
Week to date, shares of Hasbro (NASDAQ: HAS) were down by 4.8% as of 12:01 p.m. ET on Friday, according to data provided by S&P Global Market Intelligence.
The company, which is in the midst of a strategic review process, announced Thursday that it was looking to sell part of its eOne TV and film business. The stock has fallen 40% year to date due to the company's slowing revenue growth amid higher inflation. Could this sale be the beginning of a turnaround for the toy maker?
Hasbro has struggled to keep its sales up in 2022 as consumers struggle with high inflation. Through the first three quarters of the year, its revenue was down 3% on a constant-currency basis. But at its investor day in October, the company laid out a plan to improve performance by focusing on those of its brands with the biggest growth and profit potential.
Source Fool.com
