Galoob Sales Shortage Notes
The following appeared in Bloomington, Illinois's The Pantagraph. The citation is (1997-10-20) "BUSINESS HIGHLIGHTS". The Pantagraph (Bloomington, Illinois). Only the Quest portion is presented.
NEW YORK - Shares of Galoob Toys Inc. fell more than 11 percent Friday after the company, citing lower-than-expected sales, said it will not meet analysts' estimates for sales and earnings in the third quarter and full year.
The toy company said weak sales of the "Men in Black" line worldwide, and the Dragon Flyz, Sky Dancers and Jonny Quest lines outside the United States, are generating shortfalls.
Galoob said it continues to expect sales growth throughout the year in its core brands Star Wars, Micro Machines and Pound Puppies. The South San Francisco, Calif., company declined to provide estimates of sales and earnings for third quarter and full year.