Mattel’s holiday win

 

Mattel, the No.1 toymaker, posted quarterly results that breezed past
market estimates, helped by strong demand for its core brands Barbie and
American Girl.

The results come just weeks after
smaller rivals Hasbro
and LeapFrog Enterprises
warned sales slowed late in the biggest selling season of the
year.

Fourth-quarter net profit was
$325.2 million, or 89 cents a share, compared with $328.4 million, or 89 cents
a share, a year ago.

Mattel, which announced the
departure of the president of Mattel Brands, Neil Friedman, last month, said
Barbie and American Girl sales rose 8 percent. Fisher-Price sales remained flat
while Hot Wheels was up 1 percent.

Mattel, which counts billionaire
investor Carl Icahn among its investors, said sales rose 9 per cent to $2.12
billion.

Analysts on average had expected a
profit of 86 cents a share on revenue of $2.09 billion, according to Thomson
Reuters I/B/E/S.