Hasbro Inc's higher-priced toys powered its quarterly profit jump, defying an inflation-driven demand slump gripping American retail and sending its shares 2% higher on Tuesday.
- which together account more for than a third of Hasbro' sales, according to UBS - have in recent months warned of the toll rising prices were taking on shoppers.Still, the company is yet to see any push back from consumers over price hikes and could raise rates further if costs increase, Chief Executive Officer Chris Cocks told Reuters.
The Hasbro, Inc. logo is seen on a toy for sale in a store in Manhattan, New York, U.S., November 16, 2021. REUTERS/Andrew Kelly Jefferies analyst Stephanie Wissink said the build-up could hurt margins if inflation starts weighing on consumer demand for toys.
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