Pokemon Fuels Hasbro Plunge

Citing plunging sales of Pokémon and Star Wars items, toy manufacturer Hasbro warned investors Thursday that sales are expected to fall below projected expectations. The company also announced plans to cut 550 jobs, representing five percent of its workforce. Shares in the company declined 13 percent to $10.06, a 52-week low. Financial analyst Dean Gianoukos told the New York Daily News on Friday, “What happened to Hasbro is not new to the toy industry. … They geared up to produce some popular products, then people stopped buying them, and they’re still geared up with all the associated overhead.”

Source: Internet Movie Database