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Mattel, Hasbro, Jakks Pacific Downgraded

Sep - 19 - 2012
Business Tips

NEW YORK Toymakers Mattel Inc. , Hasbro Inc. and Jakks Pacific Inc. were downgraded to hold from buy by Needham on Wednesday. Analyst Sean McGowan cited macro concerns he had over weak retail toy sales in the U.S., continued economic weakness in Europe and the potential that consumers will be “distracted” by U.S. presidential election, all resulting in weak retail sales in October and early November. “We now see the potential for negative surprise on holiday sales as greater than the potential for positive surprises,” McGowan said. Mattel fell 1.8%. Hasbro dropped 1.3%. Jakks Pacific declined 4.7%.

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