Hasbro cuts full-year revenue forecast

(Reuters) – Hasbro Inc on Tuesday cut its full-year revenue forecast, a sign that price hikes and unabating inflation were prompting consumers to reduce spending on its toys.

The Monopoly maker lowered its annual revenue forecast to between flat and slightly down on a constant currency basis from its prior expectation of a low single-digit revenue growth.

Hasbro said it expects third-quarter revenue to decline approximately 15% on a reported basis and 12%, excluding the impact of foreign exchange.

(Reporting by Mehr Bedi in Bengaluru; Editing by Anil D’Silva and Krishna Chandra Eluri)

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