The toy giant
The comments come after a rise in raw materials and shipping, owing in part to the global pandemic.
However, the company still posted better than expected sales figures of more than
Sales for the period this year were up 40 per cent on the same period last year.
“We will be looking at increasing prices in the second half of [the] year,” Mattel’s chief executive
Kreiz stressed that
“We’re not the only ones who did it, in our industry everyone did – and no-one is surprised by [price increases],” he said.
Kreiz’s comments came as the company unveiled results that beat
They were boosted in particular by Barbie’s continued popularity. The doll saw a 46 per cent rise in billings.
Kreiz said that the company had encountered shipping issues, but had emerged from them owing to the size of the brand.
“We were able to leverage our size and partnerships that we have with our vendors and retail partners and mitigate some of these issues, so we did not have any impact on our business in the second quarter,” he said.
Hasbro, a rival toy maker, had announced better than expected net revenues of
The post Barbie doll maker warns of higher prices as costs rise appeared first on CityAM.
© City AM, source