⁍ Mattel Inc reported a surprise rise in quarterly sales on Thursday.
⁍ The toymaker’s shares rose 6% in extended trading.
⁍ Parents have turned to playsets and games to keep children’s boredom at bay.
– With schools closed due to the H1N1 virus, parents have turned to games and playsets to keep their kids busy—and that’s led to a 10% jump in Mattel’s third-quarter net sales, the biggest increase in a decade. The toymaker’s shares rose 6% in after-hours trading, reports Reuters. Barbie, for instance, saw a 29% rise in gross sales to $532.2 million, reports the Wall Street Journal. The company’s CEO says he expects Barbie play houses and fashion dolls to be “among the company’s best-selling toys” during the holiday season.
Source: https://www.reuters.com/article/us-mattel-results/this-is-barbies-holiday-season-says-mattel-as-toy-demand-surges-idUSKBN2772Y2