Mattel crafted a Baby Yoda plush in just three weeks, and 'the results have been epic.”
Mattel Inc. sees opportunity in soft, stuffed “plush” toys, a $2.4 billion category that’s currently occupied by the blockbuster Baby Yoda doll, which was the largest pre-sell in the company’s history.
Overall, the dolls category was up 7% in 2019, with Barbie growing 9%, reaching a six-year sales high, the company said. “Perhaps the key takeaway from Mattel’s Toy Fair meeting was the company’s more upbeat tone against an overall cautionary consumer landscape,” wrote UBS analysts.Earlier this month, Mattel reported fourth-quarter net income of $200,000, or flat earnings per share, down from $9.6 million, or 3 cents per share, in the prior year. Adjusted EPS of 11 cents blew past the penny-per-share FactSet consensus. Sales fell 3% year-over-year to $1.47 billion from $1.52 billion and were below the $1.
Hasbro Inc. HAS, -3.07% executives said the impact of coronavirus “has been small” but will increase the longer it takes to contain the outbreak. D.A. Davidson analysts note that Hasbro has reduced its manufacturing reliance on China, with about 66% of products produced there in 2019 compared with 85% in 2012. The company aims to reduce the reliance further, to 50%, over the next few years.
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