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BRIEF-Hasbro signs agreement with Toys R Us on receivables
October 23, 2017 / 6:38 PM / a month ago

BRIEF-Hasbro signs agreement with Toys R Us on receivables

Oct 23 (Reuters) - Hasbro Inc

* Hasbro CEO- Q3 operating profit margin would have been about 100 basis points higher excluding incremental bad debt expense related to Toys R Us bankruptcy -conf call

* Hasbro CFO- “expect timing impact of ultimate collection from our Toys”R“Us receivables could add an incremental 2 days on our year-end receivables compared to the end of 2016” -conf call

* Hasbro CFO- “there is higher near-term uncertainty with Toys”R“Us as we see how they’ll begin to execute their plan to emerge from Chapter 11” -conf call

* Hasbro CFO- “we did have some shipments that we stopped when we heard of Toys”R“Us declaring their bankruptcy. But just for a short period of time” -conf call

* Hasbro CFO- “With Toys”R“Us just having filed for bankruptcy so late in the third quarter, we’ve adjusted a bit our thoughts around the fourth quarter” -conf call

* Hasbro CEO on Toys “R” Us bankruptcy- “In fact, this wouldn’t have been an issue had it happened earlier in the year, and it’s not an issue for us in 2018”

* Hasbro CEO on Toys “R” Us bankruptcy- “we do need to assess what Toys”R“Us will represent of the total inventories in the fourth quarter”

* Hasbro CEO indicates “fluid environment” about shipping to Toys “R” Us, says “there’s an opportunity to put our inventory up in the marketplace in a number of places”

* Hasbro CEO - have signed an agreement with Toys R Us on receivables and go-forward on finance Further company coverage:

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