(FOX BUSINESS) – The U.S. Marines Toys for Tots charity program is anticipating higher prices and a smaller supply of toys this holiday season.
Hasbro and Mattel both noted concerns in recent earnings calls, citing supply chain disruptions stemming from the COVID-19 pandemic due to bottlenecks that have caused shipping delays from China and higher freight prices, among other things.
"We've been seeing this across many industries," Brock Pierce, businessman and vice-chair of Toys for Tots in New York City, Long Island and Puerto Rico, told Fox News. "This is the impact of shutting the world down. … This is what happens when you make production and supply chains slow down, create bottlenecks. And now we're seeing the impact of it, which is a shortage of all sorts of things."
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