Retailers, consumers and prices
Check Out Line: Losses in toyland
The maker of Barbie said its first-quarter loss widened and CEO Robert Eckert said Mattel would keep controlling costs as tough market conditions test the resilience of toy companies.
Those steps included a fashion show in New York, unveiling a six-story flagship store in Shanghai, a party in Malibu, California, and selling special designs of Barbie dolls.
Its efforts seem to be reaping some early benefits.
Worldwide Barbie sales fell 5 percent in the first quarter, less than its overall sales decline, while sales increased in the double digit range in the domestic market.
“Clearly, retailers have made room for Barbie in an otherwise difficult environment,” Wedbush Morgan Securities analyst Chris White said. “Retailers have been persuaded that Barbie looks good enough to take a chance on.”
(Additional reporting by Aarthi Sivaraman)
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