Beverly Hills 1/30/2010 1:23:22 AM
News / Business

Mattel Profits Boosted by Barbie, Hot Wheels

Business World News Update by EQUITIES Magazine

Mattel, Inc.’s profits soared in the fourth quarter, boosted by strong holiday sales in the company’s Barbie and Hot Wheels brands. The Barbie brand got a 12% holiday bump, its first growth in two years, while the Hot Wheels brand saw a 16% jump in sales revenue.

 

Brands that didn’t fare as well were the American Girl brands, which remained flat for the year and the quarter.

 

“Despite the challenging economic environment, we were pleased with the holiday performance of many of our classic and time-honored brands, including Barbie and Hot Wheels,” said CEO Robert Eckert.

 

Stock of Mattel were down 18 cents, or .9 percent, to $19.86 in morning trading.

 

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