Hasbro to raise prices of toys and games due to rising raw material prices

During Hasbro's first quarter 2021 financial results conference call, Hasbro told investors that the prices of raw materials are rising and they will increase the prices of their toys and games.

Hasbro Inc. said on Tuesday it would raise prices on toys and games to respond to rising raw material costs as it sees demand for Nerf blasters and board games surging as people spend more time at home.

“The growth in shipping costs and expenses has become more pronounced over the past few months, and we have plans in place to help reduce those costs, including price increases in the second half of the year,” Hasbro Chief Financial Officer Deborah Thomas said.

Like most U.S. manufacturers, Hasbro has had to deal with rising resin, packaging and metal prices, as well as soaring shipping costs due to high demand and supply disruptions caused by the coronavirus pandemic.