May 27, 1998 |
Hasbro Inc. obtained the rights from Japan's Nintendo Co. to make and sell toys based on characters from "Pokemon," an animated TV series that is wildly popular in Japan. The No. 2 U.S. toy maker will make a variety of Pokemon toys for sale in the U.S. and other countries outside Asia and expects to begin shipments in the fourth quarter. Nintendo merchandise based on Pokemon, which is short for "Pocket Monsters," has generated $4 billion in retail sales in Japan in the last 18 months.
March 25, 1998 |
Mattel Inc. and Hasbro Inc., the two biggest toy makers in the U.S., warned Tuesday that first-quarter sales will be below expectations due to a dip in orders from Toys R Us Inc., their largest customer. El Segundo-based Mattel said it expects sales to be relatively flat, compared with the same period a year ago. Hasbro warned sales will fall 15%. The shortfalls come as Toys R Us reduces its inventory selection to make room for better-selling merchandise.
March 17, 1998 |
Hasbro Inc. expanded its offerings of video games, acquiring more than 75 Atari properties--including the classics Centipede, Missile Command, Pong, Breakout and Tempest--from San Jose-based JTS Corp. The purchase price was not disclosed. The toy maker's Hasbro Interactive unit said it will produce the games for use on personal computers and the Sony PlayStation video game console.
February 10, 1998 |
Hasbro Inc. said it will buy Tiger Electronics Inc., the maker of Giga Pets and Laser Tag, for $335 million in cash to boost its share of the growing market for electronic toys. The world's No. 2 toy maker said it will pay an additional sum for tooling, equipment, inventory and certain prepaid assets of Tiger, a closely held company based in Vernon Hills, Ill. The amount wasn't disclosed. The move comes as Pawtucket, R.I.-based Hasbro seeks to increase sales and earnings to catch up to No.
February 6, 1998 |
G.I. Joe jilted Barbie, yet it's Joe who's still trying to get over it. Two years after rejecting a $5.2-billion buyout offer from toy industry leader Mattel Inc., No. 2 Hasbro Inc. lags far behind its rival in stock performance and is struggling to justify its decision to stay independent.
December 10, 1997 |
Philip Morris Cos. and toy maker Hasbro Inc. delivered bleak Christmas tidings to their work forces on Tuesday with layoff announcements. Philip Morris said it will slash 2,500 jobs to restructure its international food business, hoping to make the sluggish division as profitable as the company's North American tobacco and food businesses. Hasbro said it also plans to cut about 2,500 positions, or 20% of its work force.
April 19, 1997 |
Hasbro Inc. will pay a $120,000 penalty and revoke advertising claiming that toys treated with a certain antibacterial pesticide protect children, the U.S. Environmental Protection Agency said. Overall, the agreement with the EPA is expected to cost Hasbro "well in excess of a million dollars," the agency said. Pawtucket, R.I.
February 11, 1997 |
Hasbro Inc., maker of Mr. Potato Head and G.I. Joe dolls, has agreed in principle to acquire Cleveland-based Cap Toys Inc. and Petaluma-based OddzOn Products Inc. from Russ Berrie & Co. for $166 million, the companies said. Cap Toys markets dolls, novelty toys and candy. OddzOn is best known for its Koosh balls. "Our decision to sell is based on a strategic reevaluation of our business," said Russell Berrie, chairman and CEO of Oakland, N.J.-based Russ Berrie.
March 14, 1996 |
Former junk bond king Michael Milken and Oracle Systems Corp. Chairman Larry Ellison said Wednesday they are forming a new company that will use advances in technology and entertainment to improve education. Possible projects for Educational Technologies could include the development of networked computer stations and education software to run on them, Milken said. "This is a passion with me.