Hasbro is blaming a 16% decline in its first quarter sales on Toys “R” Us's bankruptcy woes. Known for toys like Transformer action figures and My Little Pony dolls, Hasbro has seen a big drop in sales with Toys “R” Us closing all its U.S. stores and are now looking to aggressively shift focus to e-commerce. A Jefferies toy analyst says that Hasbro “already was viewed as being ahead of its peers in adapting to the new marketplace,” and their decline in sales is a “clear signal to us that the balance of power in toy retail is shifting toward Amazon and the dot-coms.” (The Wall Street Journal)
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