Covid-19

Pandemic Helps Barbie Doll Break 5-Year Sales Record

Summary

Coronavirus pandemic inspires toymakers to create dolls, games, and toys with a COVID-19 theme Description video: Coronavirus-themed toys like dolls and virus kits are officially here for the 2020 holiday season. Toymakers are adapting to the pandemic and releasing educational […]

Coronavirus pandemic inspires toymakers to create dolls, games, and toys with a COVID-19 theme

Description video:
Coronavirus-themed toys like dolls and virus kits are officially here for the 2020 holiday season. Toymakers are adapting to the pandemic and releasing educational toys for kids.\n#coronavirus #coronavirustoys #COVID19tous\n\nFor 2020 election results please visit:\nElection results: https://www.yahoo.com/elections\n\nSubscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb\n\nAbout Yahoo Finance: \nAt Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life.\n\nAbout Yahoo Finance Premium: With a subscription to Yahoo Finance Premium, get the tools you need to invest with confidence. Discover new opportunities with expert research and investment ideas backed by technical and fundamental analysis. Optimize your trades with advanced portfolio insights, fundamental analysis, enhanced charting, and more.\nTo learn more about Yahoo Finance Premium please visit: https://yhoo.it/33jXYBp\n\nConnect with Yahoo Finance:\nGet the latest news: https://yhoo.it/2fGu5Bb\nFind Yahoo Finance on Facebook: http://bit.ly/2A9u5Zq\nFollow Yahoo Finance on Twitter: http://bit.ly/2LMgloP\nFollow Yahoo Finance on Instagram: http://bit.ly/2LOpNYz\nFollow Cashay.com\nFollow Yahoo Finance Premium on Twitter: https://bit.ly/3hhcnmV

Pandemic Helps Barbie Doll Break 5-Year Sales Record

Barbie’s sales reached $ 1.35 billion last year, the best since 2014. Parents stocked up on toys to help their children survive the pandemic.

Global sales of Barbie dolls worldwide grow 16%, helping Mattel achieve the largest sales since 2017.

The pandemic has benefited the toy industry, which has benefited from the constraints faced by other entertainment formats.

Supply chains were overwhelmed by skyrocketing demand earlier this year.

General director Inon Craise stated that the company, which also owns brands like Hot Wheels, was ultimately able to satisfy «extraordinary» growing demand for their products.

«Yes, the industry as a whole has benefited from the increased demand for Covid, but we are well ahead of the industry», – he said.

Hasbro’s main rival, which owns Nerf and board games such as Monopoly, reported this week that its full-year 2020 sales fell 8% to about $ 5.4 billion, despite growing 4% in the last quarter..

Pandemic Helps Barbie Doll Break 5-Year Sales Record

Mattel’s sales grew 2% last year to over $ 4.5 billion, and are up 10% in the last three months of the year, including the critical Christmas season..

Profit in 2020 was $ 126.6 million, compared with a loss of more than $ 200 million last year.

Mattel on Tuesday also announced a new savings program that it says will help save $ 250 million by 2023.

In contrast to previous efforts, which focused on reducing the company’s manufacturing floor, Craise said the measures would be broader, including plans to standardize global marketing and modernize American Girl’s retail operations..

He declined to comment on specific job cuts.

«It’s less about people and wages than about systems and processes», – he said.