Photo: Nathan Legakis / Pixabay
One of the industries that had not announced adjustments in its prices as a result of the inflation that is being experienced throughout the country is that of the toy, which until a few hours ago was one of the few that had resisted the generalized increases . But despite the fact that there were no increases for months, this niche of the retail industry will join the trend.
The firm publicly Toymaker Hasbro reported that it will raise the prices of its products as Christmas shopping approaches, so the increases will not be reflected in the immediate . Company CEO Brian Goldner released the news as part of the company’s second-quarter earnings announcement.
Brian Goldner stated that it was established “successfully price increases that take effect during the third quarter and offset the rising costs of entry and freight in the business “. The executive added that “these pressures in the supply chain are significant. But given the strength of the business, the actions we have taken, we continue to believe that we can meet our objectives. ”
As in other areas of the economy where the supply channel is one of the explanations of why Prices have risen, this factor has also impacted Hasbro, therefore the company’s logistics costs are increasing, which will be balanced with the rise in the final consumer costs of toys and that are projected for the season
According to Hasbro these price increases during the third quarter should fully materialize “in the fourth quarter. We hope this will offset the increased cost of freight and commodities that we continue to see in the business, ”said Deb Thomas, the company’s chief financial officer.
Thomas assured that given the phenomenon of shortage of various products throughout the country, the company is already working hard so that it can guarantee the distribution and sufficient stock of toys heading into the Christmas season, which is quite a challenge as supply channels have not fully recovered around the country.
None of the executives announced how much the increase in toys will be, nor was it known if this increase will apply to all the products or only to the novelties of the Christmas season. Despite this, the CEO of the company only limited himself to stating that the increase will not reach 10 %.
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