Word: hasbro
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Attacking its problems, Toys "R" Us recently declared that it was closing 59 stores, laying off as many as 3,000 workers and taking a $495 million charge against earnings to slash inventory, a move that jolted its two biggest suppliers, Hasbro and Mattel, into announcing that they expect lower earnings. Toys "R" Us has undertaken a redesign of its stores and a new strategy of broadening its merchandise to include children's clothing and electronics. But it will also have to pull off a more difficult transformation. Says Sean McGowan, an industry analyst with Gerard Klauer Mattison...
Omidyar has packed his board with branding-savvy executives from Hasbro, Intuit and Starbucks. But everyone finds working on the auction sites, well, different. Auction Universe chief executive officer Larry Schwartz recalls how someone tried to sell a live kidney for $250,000 before the company yanked the organ off-line. Suburban mom Kathy Barnett of Hoffman Estates, Ill., says she buys "garage-sale doodads" and quickly resells them on eBay: "I paid 10[cents] for a 1930s cookbook and auctioned it for $10." Ray Geeck of Lake Panasoffkee, Fla., began casually hawking dolls from his home and claims...
First he had a kung fu grip and military missions. Now he has a firm handshake and political aspirations. Yes, perennial boy toy G.I. Joe will have a new general on base later this month when Hasbro rolls out an action figure modeled after former Chairman of the Joint Chiefs of Staff COLIN POWELL, the latest addition to Hasbro's Historic Commanders Assortment. Powell (the doll) eschews fatigues for a decorated dress uniform and tie. But after a tough day of reconnaissance in Mom's petunia garden, the general and company might want to kick off their combat boots...
...Diana, Princess of Wales Memorial Fund, which has been criticized for allowing the late Princess' signature logo to appear on a tub of margarine, said Wednesday it was approached by the American toy firm Hasbro Inc. about games, puzzles and other toys, including a doll like its popular Sindy. But the London-based Fund responded, "The Diana, Princess of Wales Memorial Fund has not granted a license for a Diana Sindy Doll." A spokesman said a Diana doll of some other kind has not been ruled out, as long as it meets the trustees' requirements and is judged acceptable...
Competitors of Toys "R" Us have been slapping the retail giant silly in recent years. Last week the Federal Trade Commission took a whack, ruling that Toys "R" Us had illegally forced such manufacturers as Mattel and Hasbro to withhold their products from warehouse clubs like Costco. The FTC barred Toys "R" Us from blacklisting toymakers for selling to low-price clubs. The company says it will appeal...