Barbie, Hot Wheels Drive Mattel’s Sales Beat; Shares Soar

www.oann.com | 11/16/2018 | Staff
EGFZE (Posted by) Level 3
(Reuters) – Mattel Inc beat Wall Street estimates for quarterly sales on Thursday, as the toy-maker sold more Barbie dolls and Hot Wheels cars during the crucial holiday season, sending its shares up more than 17 percent in extended trading.

Barbie ended the year with its highest gross sales in five years, Mattel said. The company has been successful in turning around the iconic brand by launching dolls with different skin tones, adding plus-sized and hijab-wearing models and introducing new science kits to make the dolls more educational.

Gross - Sales - Percent - Barbie - Percent

Gross sales rose 12 percent for Barbie and 9 percent for Hot Wheels in the fourth quarter, handily beating analysts’ estimates for both brands.

However, gross sales in North America fell 10.1 percent to $744.5 million, reflecting Mattel’s struggles with finding a major retailer to make up for lost sales...
(Excerpt) Read more at: www.oann.com
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