Check out earnings in toyland… for one company at least.
Hasbro posted a better-than- expected first-quarter profit on Monday, with sales rising 13 percent. Meanwhile, Mattel had a loss in the first quarter , hurt by legal expenses, higher costs and lower sales of its Fisher-Price products.
Oh, and Barbie is sagging too, with that Mattel doll line posting 12 percent drop in sales in the United States.
Now, it’s hard to draw a lot from the first quarter in the toy business. After the holiday season, many people often take a break from buying toys.
But Hasbro had success with its Transformers and Littlest Pet Shop lines.
Mattel is hoping price increases in June will help offset rising costs.
Meanwhile, the competition really heats up again in coming months as the summer movie season hits. Will “Speed Racer” and “Batman: The Dark Knight” win the day for Mattel over Hasbro-linked “Iron Man” and “Indiana Jones and the Kingdom of the Crystal Skull?”
At Mattel, they have to be singing “Go Speed Racer, go!”
Also in the basket:
Reversing Field, Macy’s Goes Local (WSJ)
Weak dollar takes toll on European beauty exports (WWD)
Shop Talk
Retailers, consumers and prices
Check Out Line: Toyland bottomline
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Posted by: Brad Dorfman
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