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Retailers, consumers and prices
Less at the pump means more in stores, Hasbro CEO says
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Consumers rejoicing at the gas pump in recent days may mean good news for retailers — at least that’s what the CEO for toy maker Hasbro is thinking.
In an interview after Hasbro — known for its Monopoly board game and My Little Pony toys — posted a third-quarter profit that beat Wall Street expectations, CEO Brian Goldner said one heartening outcome of the financial crisis was that crude oil prices have fallen in recent weeks, which has translated into lower prices at the pumps for consumers.
That means shoppers could have some extra cash in hand to buy, say, Hasbro’s $180 Furreal Friends toy pup called Biscuit. If that seems like a lot of cash to spend on a toy, Hasbro says it also has several items on offer for less than $20.
Goldner said sales of board games were up 7 percent in the quarter. Demand for titles like Scrabble, Trivial Pursuit, and Twister was strong as consumers cut down on road trips or vacations and looked for ways to entertain the whole family at home.
The company expects board games to do well in the holidays.
(Photo: Reuters)
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I thought FurReal Friends seemed way too expensive for a stuffed animal…that is until I checked them out. Seems like these robotic animals are most definitely worth the investment. I don’t think I would spend $20 for one that doesn’t do as much..but the more pricey FurReal Friends seem really neat.