Hasbro is planning to raise the price of its toys.
The company is blaming the increased costs of supplies.
"Our first quarter results were in line with our plans, as the team continued to manage supply chain disruptions, positioning us to meet or exceed our outlook for the year," said Deborah Thomas, Hasbro chief financial officer. "As we discussed at year end, pricing increases went into effect in our consumer products business at the beginning of the second quarter and will help offset the higher input and freight costs in future quarters.
Hasbro officials told stockholders this week that the company could lose 100-million dollars in 2022 because of the decision to pause toy shipments in Russia.
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