US toy group Mattel with profit jump: Barbie is employee of the month

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Emma Teitel
Emma Teitel
Emma Teitel is an award-winning national affairs columnist with the Toronto Star who writes about anything and everything. She got her start at Maclean's Magazine where she wrote frequently about women's issues, LGBT rights, and popular culture.

For decades, the toy group Mattel reproduced a questionable ideal of beauty of a wasp waist, long legs and blond hair. After all, versions of gender-neutral Barbie dolls, which are manufactured with wider hips, different skin colors, as well as a model with a hijab already. However, no matter in which version: Barbies are booming and the high demand for Mattel’s revenue in the last quarter to rise sharply.

The toy company generated net sales of 1.63 billion dollars that analysts had expected, with 1.46 billion. The gross sales for Barbie rose by 29 percent to 532,2 million dollars – the highest quarterly revenues since 2003, when Mattel, which also sells the toy car brand Hot Wheels. The adjusted profit amounted to 95 cents per share, analysts had expected 39 cents.

Mattel: the toy industry’s resilience in difficult times

Overall, Hasbro’s rival, earned in the three months to the end of September, so $ 316 million and after poor sales in the previous year – 348 percent more than in the third quarter of 2019. The proceeds of cars driven increased by high demand for dolls and toys by around ten percent to $ 1.6 billion, as the company announced on Thursday after US stock exchange conclusion. The share price rose in the face of these Numbers after hours at times to more than ten percent.

Mattel CEO Ynon Kreiz said: “The toy industry as a Whole has grown significantly and continue to prove their resilience in difficult economic times.” Mattel was able to leave the industry rivals behind, as the group gained to add in the most important markets in the world shares. Also, for the fourth quarter, Mattel expected due to the early start of the Christmas business, a robust increase in sales.

Icon: The Mirror

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