Article taken from: s.chinadailyhk.com
This is Barbie’s holiday season, says Mattel as demand surges By Reuters Friday, October 23, 2020, 15:36 By Reuters In this March 8, 2019 photo, Barbie Dolls are seen in celebration of Barbie’s 60th Anniversary and International Women’s Day at the Empire State Building in New York City. ANGELA WEISS / AFP) Mattel Inc reported a surprise rise in quarterly sales on Thursday and forecast more growth in the holiday season, as retailers rushed to restock their shelves of Barbie dolls and other toys in high demand from stuck-at-home kids. […] With the COVID-19 pandemic forcing schools in many parts of the United States to hold classes online, parents have turned to playsets and games to keep children’s boredom at bay, boosting toy sales at retailers such as Walmart Inc and Target Corp. ALSO READ: Mattel’s classic Barbie dolls prove to be a lockdown favorite As pre-pandemic inventories run low, Mattel has had to boost shipments, leading to a 10 percent jump in its third quarter net sales – the biggest increase in a decade. According to research firm NPD, demand is expected to increase as wealthy families with excess of money to spend due to canceled vacations splurge on toys during the holiday season. […] Mattel posted net sales of US$1.63 billion in the quarter ended Sept 30, beating analysts’ estimates of US$1.46 billion, according to IBES data from Refinitiv.
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