Mattel Reports Profit, Credits Barbie Makeover for the Success
Mattel has surprised both investors and Wall Street analysts by posting a profit from the fourth quarter. The toy manufacturer has recently given its iconic Barbie line a complete makeover. Mattel added dolls with different ethnicities and careers to the portfolio. The risk paid off. Barbie ended 2018 with the highest gross sales in five years. Mattel has also partnered with Warner Brothers to create a Barbie movie. Oscar-nominated actress Margot Robbie will star in the film. Mattel’s fourth quarter results sent shares up 19 percent.
“Barbie has got every career a girl could aspire to and especially in the current environment … female empowerment is huge and that’s really helping Barbie do well at retail,” said Jackie Breyer, editorial director at trade magazine the Toy Book.