mattel
New York (AFP) - American toy maker Mattel on Wednesday reported a drop in profits compared to last year, due to lower sales including a decline in Barbie products in the second quarter. Profits fell 59 percent compared to this time last year, to $27.2 million, on a 12 percent fall in revenues to $1.1 billion. The first quarter had seen a net loss of $106 million, and analysts had expected a loss of $11 million this quarter. Business was negatively hit by retailers trimming inventory levels and "some overall industry softness," said Chief Financial Officer Anthony DiSilvestro. "At this point, ...
AFP
New York (AFP) - US clothing chain Gap announced Wednesday that it tapped as its next CEO Richard Dickson, the current Mattel president who has been credited with reinvigorating Barbie. Gap, which owns its namesake stores as well as Old Navy, Banana Republic and Altheta, said Dickson will take reins of the company on August 22. Gap's press release described Dickson as a "lead architect in a global corporate transformation that has reinvigorated Mattel's iconic brands, including Barbie, Hot Wheels and Fisher-Price, as well as restored the company to growth and reaffirmed Mattel as an industry t...
AFP
New York (AFP) - Hollywood A-listers have been walking red carpets in hot pink, glitter is back, and companies from The Gap to Burger King are doing rose-colored collaborations: "Barbie" mania is everywhere as the hotly anticipated film hits theaters worldwide. Toy maker Mattel, who first unveiled the iconic doll in 1959, has reached about 100 licensing agreements for everything from roller skates to toothbrushes in connection to director Greta Gerwig's summer flick. Of course, Barbie is big in the beauty world too -- lipsticks, blushes and mirrors all bear the famous logo. "In the 30 years t...
AFP
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