/cloudfront-us-east-2.images.arcpublishing.com/reuters/JKCAR5D525KRPO47W256DU3UXE.jpg "Hasbro cuts income forecast as writers’ strike to hit leisure unit")
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The Hasbro, Inc. brand is seen on the Star Wars Galactic Snackin Grogu toy within the FAO Schwarz toy retailer in Manhattan, New York City, U.S., November 24, 2021. REUTERS/Andrew Kelly/File picture
Aug 3 (Reuters) – Hasbro (HAS.O) lowered its full-year income forecast on Thursday as its leisure section, which incorporates eOne movie and TV studio, is predicted to take a success from the continuing writers’ and actors’ strike.
The firm forecast fiscal 2023 income would decline 3% to six%, in contrast with its earlier outlook of a low-single-digit decline, as leisure section income is predicted decline between 25% and 30%.
Separately, the toymaker stated it will promote its eOne movie and TV studio to Lionsgate Entertainment for about $500 million as a part of its efforts to give attention to extra worthwhile manufacturers.
Reporting by Savyata Mishra in Bengaluru
Editing by Vinay Dwivedi
Our Standards: The Thomson Reuters Trust Principles.
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