Hasbro says its “optimistic” about its Christmas sales, which account for almost half of its annual profit, despite industry speculations of lighter spending by consumers.
During a meeting with analysts and investors at the firm’s head office, CEO Al Verrecchia commented on how product recalls have slowed consumer spending.
Verrecchia said “ we have not seen any measurable negative impact“ on purchases of the firm’s products, despite the tens of millions of products recalled by other companies over the last four months.
Instead, it has increased product testing and stepped up factory inspections.
The firm plans to concentrate on expanding lines such as Littlest Pet Shop rather than just concentrating on movie-based products.