Latest news with #toyprices
CNN
10-07-2025
- Entertainment
- CNN
Hasbro CEO says toy prices could rise by the fall
Hasbro CEO says toy prices could rise by the fall America's toy prices could rise later this year, particularly if higher tariffs take effect, Hasbro CEO Chris Cocks told CNN's Audie Cornish, host of 'The Assignment' podcast. 01:23 - Source: CNN Vertical Trending Now 16 videos Hasbro CEO says toy prices could rise by the fall America's toy prices could rise later this year, particularly if higher tariffs take effect, Hasbro CEO Chris Cocks told CNN's Audie Cornish, host of 'The Assignment' podcast. 01:23 - Source: CNN Moo Deng turns one The Khao Kheow Open Zoo in Thailand celebrated the first birthday of Moo Deng – a pygmy hippo who rose to fame last year after heartwarming and mischievous videos of her went viral. CNN spoke to Moo Deng fans who flew from around the world to celebrate her special day. 01:13 - Source: CNN Video: Bodycam footage shows Olympic gold medal gymnast arrested for DUI The City of Fairmont Police Department released bodycam videos showing iconic Olympic gold medal gymnast Mary Lou Retton struggling to take a field sobriety test during a May traffic stop in West Virginia. Retton was arrested and paid a fine after a court hearing, after which she released a statement apologizing. 02:27 - Source: CNN Robot soccer kicks off China's humanoid sports boom Less Messi, more messy – regardless, China is investing heavily in robot sports as a way of testing how much one can achieve. 01:30 - Source: CNN Video: Home washes away during floods in New Mexico At least three people, including two children, were killed in a mountain village in southern New Mexico, after monsoon rains triggered flash flooding on Tuesday, officials said. Video shows a home in Rio Ruidoso being washed away by what authorities described as 'record-breaking' floodwaters. Emergency crews carried out at least 85 swift water rescues in the Ruidoso area, including of people who were trapped in their homes and cars, said Danielle Silva of the New Mexico Department of Homeland Security and Emergency Management, according to the Associated Press. 00:22 - Source: CNN ISS astronauts talk rare all-female spacewalk Astronauts Nichole Ayers and Anne McClain speak to CNN's Wolf Blitzer from the International Space Station about their research, the success of their rare all-female spacewalk, and the future of space exploration. 01:48 - Source: CNN Disc-shaped UAP captured on video Journalist and UFO enthusiast Jeremy Corbell has released footage, reportedly captured by the US military in 2020, of a disc-shaped unidentified flying object. The Pentagon declined to answer CNN's questions on the validity of the video. 02:21 - Source: CNN Video shows river rises dramatically in New Mexico flooding At least three people, including two children, were killed in Village of Ruidoso in southern New Mexico, after monsoon rains triggered flash flooding on Tuesday, officials said. The Rio Ruidoso surged drastically from under 2 feet to over 20 feet in less than an hour. 00:36 - Source: CNN Scammers target parents of Texas flood victims CNN's Audie Cornish spoke with Senior Columnist for the Houston Chronicle Lisa Falkenberg who talks about how officials disclosed that some parents of the victims of the devastating floods in Texas are being targeted by scammers. 01:17 - Source: CNN Drone shows rare site: Greece's Acropolis with no tourists Authorities in Athens, Greece closed the country's most popular tourist destination for several hours on Tuesday, sighting scorching temperatures nearing 108˚ Fahrenheit (42˚C) as a health concern. Drone video by Reuters captured the rare instance of the site being empty of visitors. 00:41 - Source: CNN First man to kitesurf across the Taiwan Strait Swiss dentist and extreme sports enthusiast Geza Scholtz has become the first person ever to kitesurf across the politically sensitive Taiwan Strait. 01:16 - Source: CNN TSA to end shoes-off requirement at airport security checkpoints After nearly two decades, passengers going through airport security in the United States will no longer have to take their shoes off. The Transportation Security Administration will be phasing out the security requirement, a government source familiar with the matter confirmed to CNN on the condition of anonymity. 00:35 - Source: CNN New Barbie raising awareness about type 1 diabetes Mattel designed a new Barbie to represent those living with type 1 diabetes. CNN's Jacqueline Howard explains what makes this doll unique. 01:18 - Source: CNN Will AI replace human musicians? Recording Academy CEO weighs in Harvey Mason Jr., a music producer and CEO of the Recording Academy and GRAMMYs, explains why he's "optimistic but scared" about the impact of artificial intelligence technology on the music industry. Listen to his full interview on CNN's Terms of Service with Clare Duffy here. 02:02 - Source: CNN Sean 'Diddy' Combs' sentencing date announced Sean "Diddy" Combs will be sentenced in a hearing set to be held October 3, after he was found guilty on two counts of transportation to engage in prostitution. CNN's Elizabeth Wagmeister reports that Combs faces a max prison sentence of up to 20 years for both charges combined. 01:06 - Source: CNN Pet lion escapes and attacks woman and her children The owners of a pet lion that attacked three people after escaping from a farmhouse have been arrested. 00:34 - Source: CNN
Daily Mail
10-07-2025
- Business
- Daily Mail
Hasbro warns toy prices to spike amid Trump tariffs
The CEO of Hasbro has recently revealed that he expects toy prices will increase from August through October. Hasbro is one of the largest American toy production companies in the world, known for iconic brands like My Little Pony, Play Doh, Transformers, GI Joe, Candy Land, Scrabble, Nerf and Dungeons & Dragons. Chris Cocks has served as Hasbro's CEO since February 2022, and predicts the Trump administration's tariffs will eventually hit the industry. While Hasbro is yet to make any significant price hikes, its main international suppliers are based in China and Vietnam. The federal government slapped a 30 percent minimum tariff on China and under an agreement, Trump says the US will charge Vietnam a 20 percent tariff. Cocks believes it's only a matter of time before the levies make an impact. 'I would expect if prices are going to be raised across the industry, the consumer will probably start to see them in the August through October timeframe, just based on the production timelines associated with toys,' Cocks revealed on CNN's The Assignment podcast. He explained that the production timeline for toys typically takes three to five months. The market was rocked in April when Trump imposed a minimum 10 percent tariff on US imports. The stock market plummeted as a result , forcing the administration to issue a 90-day pause . The president has remained steadfast on applying pressure to manufacturers to make products in the US. Cocks told Cornish that although Hasbro has shifted it's supply to increase US-based production, it's easier said than done. 'If you took the same toy and manufactured it in the US, labor would make up 80 to 90 percent of the cost,' he explained. Cocks said transitioning production to the US would require paying workers more due to American labor requirements. This would mean that consumers would have to pay more for products. For example, a doll typically sold for $10 would increase to $18. The federal administration has stood by the tariffs, claiming that foreign countries should absorb the costs. The economic policy was initially in line with Trump's 'America First' mentality, attempting to alleviate the country's reliance on foreign products. Cocks said the reality was different, arguing, 'It's always a business working with another business that absorbs things.' Despite the tumultuous time for manufacturers, Cocks said since Hasbro relies on profits from it's gaming division, he's not too concerned about the company losing money due to the tariffs. 'I feel more for my toy industry CEO peers than I do necessarily for my day-to-day challenges,' he confessed. Toy companies like Mattel have also admitted to feeling the brunt of Trump's tariffs , with the manufacturer detailing a grim prediction in its 2024 financial report . 'Changes in the amount, scope and nature of the tariffs in the future... could increase Mattel's product costs and other costs of doing business,' the report stated. 'Other changes in laws or regulations in the United States and/or in other major markets, such as China, in which Mattel operates... may also increase Mattel's product costs and other costs of doing business and in each case reduce Mattel's earnings and liquidity.' Mattel manufactures almost half of its products in China and roughly another 10 percent in Mexico. China is responsible for a significant percentage of US imports, and currently has a 30 percent tariff from the Trump administration. The percentage has decreased significantly after Chinese products briefly faced tariffs as high as 145 percent. The future of trade negotiations remains uncertain as Trump pushed back the tariff pause to August 1.
Daily Mail
10-07-2025
- Business
- Daily Mail
Major toy manufacturer reveals when prices are set to climb after crippling tariffs
The CEO of Hasbro has recently revealed that he expects toy prices will increase from August through October. Hasbro is one of the largest American toy production companies in the world, known for iconic brands like My Little Pony, Play Doh, Transformers, GI Joe, Candy Land, Scrabble, Nerf and Dungeons & Dragons. Chris Cocks has served as Hasbro's CEO since February 2022, and predicts the Trump administration's tariffs will eventually hit the industry. While Hasbro is yet to make any significant price hikes, its main international suppliers are based in China and Vietnam. The federal government slapped a 30 percent minimum tariff on China and under an agreement, Trump says the US will charge Vietnam a 20 percent tariff. Cocks believes it's only a matter of time before the levies make an impact. 'I would expect if prices are going to be raised across the industry, the consumer will probably start to see them in the August through October timeframe, just based on the production timelines associated with toys,' Cocks revealed on CNN's The Assignment podcast. He explained that the production timeline for toys typically takes three to five months. The market was rocked in April when Trump imposed a minimum 10 percent tariff on US imports. The stock market plummeted as a result, forcing the administration to issue a 90-day pause. The president has remained steadfast on applying pressure to manufacturers to make products in the US. Cocks told Cornish that although Hasbro has shifted it's supply to increase US-based production, it's easier said than done. 'If you took the same toy and manufactured it in the US, labor would make up 80 to 90 percent of the cost,' he explained. Cocks said transitioning production to the US would require paying workers more due to American labor requirements. This would mean that consumers would have to pay more for products. For example, a doll typically sold for $10 would increase to $18. The federal administration has stood by the tariffs, claiming that foreign countries should absorb the costs. The economic policy was initially in line with Trump's 'America First' mentality, attempting to alleviate the country's reliance on foreign products. Cocks said the reality was different, arguing, 'It's always a business working with another business that absorbs things.' Despite the tumultuous time for manufacturers, Cocks said since Hasbro relies on profits from it's gaming division, he's not too concerned about the company losing money due to the tariffs. 'I feel more for my toy industry CEO peers than I do necessarily for my day-to-day challenges,' he confessed. Toy companies like Mattel have also admitted to feeling the brunt of Trump's tariffs, with the manufacturer detailing a grim prediction in its 2024 financial report. 'Changes in the amount, scope and nature of the tariffs in the future... could increase Mattel's product costs and other costs of doing business,' the report stated. 'Other changes in laws or regulations in the United States and/or in other major markets, such as China, in which Mattel operates... may also increase Mattel's product costs and other costs of doing business and in each case reduce Mattel's earnings and liquidity.' The Hasbro CEO added that manufacturing products in the US could mean increased labor costs (Pictured: Cocks with James B. Laster (right) at the 91st anniversary of the Hollywood Christmas Parade in 2023) Mattel manufactures almost half of its products in China and roughly another 10 percent in Mexico. China is responsible for a significant percentage of US imports, and currently has a 30 percent tariff from the Trump administration. The percentage has decreased significantly after Chinese products briefly faced tariffs as high as 145 percent.
CNN
09-07-2025
- Business
- CNN
Hasbro's CEO warns that toy prices could start to rise in the fall because of tariffs
America's toy prices could rise later this year, particularly if higher tariffs take effect, Hasbro CEO Chris Cocks told CNN's Audie Cornish, host of 'The Assignment' podcast. Cocks said on this week's episode of 'The Assignment' that America's current 30% minimum tariffs on China and apparent agreement to place 20% tariffs on Vietnam's goods are 'pretty significant,' but not unexpected. China and Vietnam are Hasbro's main international suppliers. 'We've been around for a while,' Cocks said. 'We take a long-term view of things, and so our general reaction is: Be agile, but don't overreact.' Hasbro, founded in 1923, produces well-known toys and games, including Play-Doh, Transformers, Candy Land and Dungeons & Dragons. Although Hasbro has not yet raised prices because of tariffs, Cocks said an increase could be coming. 'I would expect if prices are going to be raised across the industry, the consumer will probably start to see them in the August through October timeframe, just based on the production timelines associated with toys,' he said. Cocks said toys typically take three to five months to hit store shelves after a retailer places orders for them. About half of Hasbro's products are made in the United States, with the rest manufactured abroad, Cocks said. Over the past few years, Hasbro has shifted production to reduce reliance on China, increasing output in the US, Vietnam, Turkey and India. The company has also increased domestic production of board games in Massachusetts. Trump has urged companies to manufacture in the US to avoid tariffs, a shift Cocks said is realistic for Hasbro. He pointed to 'Magic: The Gathering,' a billion-dollar card game, that is already made in North Carolina and Texas. He said there may be room to expand some domestic production further. For instance, Play-Doh — made from wheat — is similar to edible dough and could be a candidate for US-based manufacturing. Still, Cocks said relocating more manufacturing to the United States remains challenging. Labor is a significant cost, and unlike other industries, toys often require fine detailing by hand. That makes automation harder. 'If you took the same toy and manufactured it in the US, labor would make up 80 to 90% of the cost,' he said. For consumers, that means a doll sold for $10 now could cost up to $18 to maintain profit margins. Cocks also pushed back on claims from officials like Commerce Secretary Howard Lutnick that foreign countries absorb tariff costs. 'It's always a business working with another business that absorbs things,' he said. He said foreign suppliers have thin margins – about 2 to 3% – so they can't afford to absorb 10% tariffs, he said. Ultimately, Hasbro will pay more to import its products. Cocks said Hasbro is better positioned than many in the toy industry to handle the pressure from new tariffs. Its games division is performing strongly and relies less on overseas manufacturing. He added that Hasbro's licensing business, which has grown 60% over the past three years, is especially valuable because it brings in 'pure profit.' 'It just gives us a lot more cushion,' Cocks said. 'I feel more for my toy industry CEO peers than I do necessarily for my day-to-day challenges.'
CNN
09-07-2025
- Business
- CNN
Hasbro's CEO warns that toy prices could start to rise in the fall because of tariffs
America's toy prices could rise later this year, particularly if higher tariffs take effect, Hasbro CEO Chris Cocks told CNN's Audie Cornish, host of 'The Assignment' podcast. Cocks said on this week's episode of 'The Assignment' that America's current 30% minimum tariffs on China and apparent agreement to place 20% tariffs on Vietnam's goods are 'pretty significant,' but not unexpected. China and Vietnam are Hasbro's main international suppliers. 'We've been around for a while,' Cocks said. 'We take a long-term view of things, and so our general reaction is: Be agile, but don't overreact.' Hasbro, founded in 1923, produces well-known toys and games, including Play-Doh, Transformers, Candy Land and Dungeons & Dragons. Although Hasbro has not yet raised prices because of tariffs, Cocks said an increase could be coming. 'I would expect if prices are going to be raised across the industry, the consumer will probably start to see them in the August through October timeframe, just based on the production timelines associated with toys,' he said. Cocks said toys typically take three to five months to hit store shelves after a retailer places orders for them. About half of Hasbro's products are made in the United States, with the rest manufactured abroad, Cocks said. Over the past few years, Hasbro has shifted production to reduce reliance on China, increasing output in the US, Vietnam, Turkey and India. The company has also increased domestic production of board games in Massachusetts. Trump has urged companies to manufacture in the US to avoid tariffs, a shift Cocks said is realistic for Hasbro. He pointed to 'Magic: The Gathering,' a billion-dollar card game, that is already made in North Carolina and Texas. He said there may be room to expand some domestic production further. For instance, Play-Doh — made from wheat — is similar to edible dough and could be a candidate for US-based manufacturing. Still, Cocks said relocating more manufacturing to the United States remains challenging. Labor is a significant cost, and unlike other industries, toys often require fine detailing by hand. That makes automation harder. 'If you took the same toy and manufactured it in the US, labor would make up 80 to 90% of the cost,' he said. For consumers, that means a doll sold for $10 now could cost up to $18 to maintain profit margins. Cocks also pushed back on claims from officials like Commerce Secretary Howard Lutnick that foreign countries absorb tariff costs. 'It's always a business working with another business that absorbs things,' he said. He said foreign suppliers have thin margins – about 2 to 3% – so they can't afford to absorb 10% tariffs, he said. Ultimately, Hasbro will pay more to import its products. Cocks said Hasbro is better positioned than many in the toy industry to handle the pressure from new tariffs. Its games division is performing strongly and relies less on overseas manufacturing. He added that Hasbro's licensing business, which has grown 60% over the past three years, is especially valuable because it brings in 'pure profit.' 'It just gives us a lot more cushion,' Cocks said. 'I feel more for my toy industry CEO peers than I do necessarily for my day-to-day challenges.'
