US toymakers fall on Trump trade tariff exposure concerns

Funko

03/02/2025 14:20

** Shares of toy manufacturers Mattel  MAT.O  and Hasbro
 HAS.O  slip in premarket trading on potential exposure to
recent trade tariffs
    ** On Sunday, President Donald Trump imposed sweeping levies
on Mexico, Canada and China that will affect billions of dollars
of trade
    ** Barbie parent MAT and Funko  FNKO.O  down about 3% each;
Monopoly maker HAS falls 2.6% before the bell
    ** D.A. Davidson analyst Linda Bolton Weiser says Mattel's
stock most exposed to tariff news with China making up 40% of
company's sourcing, though below industry average of over 80%
    ** Hasbro management's target to get China exposure down to
about 20% in 2 to 4 years will face increased urgency for HAS'
suppliers to build alternate locations, Weiser adds
    ** About 33% of FNKO's products are manufactured in China
with Loungefly, which is already under tariffs, representing 10
percentage points of that - D.A. Davidson analyst
    ** Mattel reports Q4 results after markets close on Tuesday
with analysts watching to identify a potential inflection point
    ** Across 2024, MAT stock fell ~6%, Hasbro rose 9.5%, and
FNKO jumped 73% 
    

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.Mishra@thomsonreuters.com))