Summary
LOS ANGELES -- Toymakers and major retailers are bracing for potentially weak Christmas sales this year amid concerns that consumers, many squeezed by skyrocketing gas prices or uneasiness over the economy, will spend less on holiday shopping.
On Monday, No. 1 toy manufacturer Mattel Inc. and No. 2 Hasbro Inc. both reported weak third-quarter sales. They also warned investors their fourth quarter earnings might suffer if the consumer sluggishness carries forward into the critical holiday season.See the full content of this document
Extract
Toymakers Brace for Weak Sales
Robert A. Eckert, Mattel's chairman and chief executive officer, told Wall Street analysts Monday the company is contending with "challenges unique to the toy industry."
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