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Hasbro revenue falls 29% as store closures, product shortages hurt sales; shares drop – CNBC

Store closures, product shortages and lower retail inventory hampered Hasbro in the second quarter, as the company posted weaker-than-expected earnings on Monday.

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Store closures, product shortages and lower retail inventory hampered Hasbro in its fiscal second quarter, as the company dealt with the fallout of the global coronavirus pandemic.
Despite strong demand for toys in the quarter, Hasbro’s revenue fell 29% on a pro forma basis. 
Shares of the company were down 6.8% in premarket trading Monday, on the weaker-than-expected results. 
For the quarter ended June 28, Hasbro posted a net loss of $33.9 million, or 25 cents per share, compared with a pro…

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