Hasbro sees cost of China-made toys rising: report
NEW YORK (Reuters) - Hasbro Inc (HAS.N), the second-largest U.S. toy company, expects a 14 percent to 15 percent increase this year in the costs of made-in-China products due to higher labor, commodity and currency costs, according to a story on the Financial Times Web site.
The company also expects costs to be affected by additional product safety testing in the aftermath of last year's U.S. toy safety recalls, the paper said, citing Hasbro Chief Financial Officer David Hargreaves.
The paper said Hasbro's China-based suppliers were increasingly shifting production away from the coastal industrial regions as they face rising costs, including labor.
(Reporting by Yinka Adegoke; Editing by Lisa Von Ahn)
