(CNN) – Hasbro, the toy giant’s shares plummeted 15% after it posted disappointing sales and earnings figures Tuesday. Hasbro blames tariffs for missing sales forecasts.
The company says it’s costing more to ship products and they are sitting in warehouses longer as retailers shift the timing of orders due to tariff fears.
Demand for core brands like Nerf, Mr. Potato Head, and Play-Doh is relatively flat, but Disney is a massive bright spot for Hasbro. Toys tied to upcoming films “Frozen 2” and “Star Wars: The Rise of Skywalker” boosted sales in the company’s partner branded toys segment by a whopping 40%.
Hasbro’s stock was up nearly 50% for the year before Tuesday’s dismal report.