Monopoly maker Hasbro misses quarterly estimates as toy demand slumps

Monopoly maker Hasbro misses quarterly estimates as toy demand slumps

Hasbro misses quarterly estimates on sluggish toy demand; shares fall (Reuters) -Hasbro posted a steeper-than-expected drop in holiday-quarter sales and profit on Tuesday as the toy industry grapples with a slump in demand, sending the Monopoly maker's shares down 6% in premarket trading. Sluggish demand from a pullback in leisure spending led to cautious inventory planning by retailers like Walmart and Target. The results are in line with pressures seen across toy manufacturers, including rival Mattel, which forecast tepid sales …