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☆ The Gap comeback that might actually be working
▼ + stars: | 2024-10-02 | by ( Cathleen Chen | ) edition.cnn.com time to read: +21 min

Designer Zac Posen — now creative director at Gap Inc., at the Vanity Fair Oscar party in March 2024. Danny Moloshok/ReutersSince 2014, the Gap brand has nearly halved its presence in North America, going from 968 stores in the market to 472 as of February. It makes up about 20% of overall Gap Inc. revenue, while Old Navy accounts for more than half. Before Gap, Posen was on track for a similar trajectory to Mizrahi’s. They started by redefining the positioning of each brand: Gap as a pop culture brand.

Persons: CNN — Zac Posen, Richard Dickson, Posen, Donald, Doris Fisher, Mickey Drexler, Drexler, Uniqlo, Zac Posen —, Danny Moloshok, Sonia Syngal, Dickson, Barbie, Troye Sivan, Da’vine Joy, Anne Hathaway, ” Posen, won’t, Zac, Isaac Mizrahi, ”, Gabriella Santaniello, Mizrahi, Zac Born, Saint Ann’s, Lola Schnabel, Julian Schnabel, Lena Dunham, Nicole Miller, Naomi Campbell, Grimm, —, Da'Vine Joy Randolph —, Jamie McCarthy, Yucaipa, Ron Burkle, Sean Combs, Zac Posen, Neiman Marcus —, Zac Posen — that’s, Zac Posen’s, it’s, Paco Rabanne, Patrick Robinson, Ye, Julie Gilhart, Gilhart, ” Dickson, Bernadette Peters, “, Harrison Ball, Ryan Murphy, ’ ”, TJ Maxx, Kennedy, Anne Hathway, Pietro S, Robert, William Fisher, didn’t, Mark Breitbard, Horacio Barbeito, Chris Blakeslee, Goodman, Stephanie Keith, Da’Vine Joy Randolph’s, Sivan, Hathaway, Julia Fox, influencer, Lee Peterson, hasn’t Organizations: The, Fashion, CNN, Old Navy, Inc, New Yorker, Gap Inc, Navy, Banana, Reuters, Mattel, Hollywood, Xcel Brands, QVC, Saint, Metropolitan Museum of Art, Central Saint Martins, New York Times, Centric Brands, Barneys, New York City Ballet, Swans, Disney, rockstar, Old, America ., Collins Group, Vogue, Bloomberg, Council of Fashion Designers of America, New York, Dôen Locations: Posen, San Francisco Bay, New, Banana Republic, Athleta, San Francisco, Oxford, Zara, North America, Asia, China, Republic, New York City, American, London, Bloomsbury, Balthazar, SoHo, Rome, Italy, New York, America, America . Banana

☆ S&P 500 futures are little changed as investors await key earnings reports: Live updates
▼ + stars: | 2024-07-22 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

S&P 500 futures are near flat Monday night, with traders readying for earnings reports from major companies after the benchmark posted its best day in more than a month. Futures tied to the broad index sat near their flatline, as did Nasdaq 100 futures . The S&P 500 rose more than 1% for its best session since early June, while the Dow ticked higher by 0.3%. The S&P 500 was led higher by the information technology and communication services sectors, which gained roughly 2% and 1.2%, respectively. "If we get that bullish inflation report, I think you could see another leg higher in small caps and the banks."

Persons: Russell, Larry Tentarelli, Tentarelli, Mattel Organizations: New York Stock Exchange, Dow Jones Industrial, Dow, Nasdaq, Big Tech, Federal Reserve, Blue, Motors, Comcast, UPS, Technology, CNBC

☆ Lego is cashing in big time on its adult fan base, doubling its revenue in the last decade
▼ + stars: | 2024-04-14 | by ( Katie Balevic | ) www.businessinsider.com time to read: +2 min

Lego is cashing in on adult fans buying high-priced Lego sets. The $850 Millennium Falcon set is part of how Lego doubled its revenue in a decade. Lego knows that and is cashing in on its base of adult fans willing to dish out hundreds of dollars on elaborate sets. "Nowadays it's not so geeky," Sian Twynham, another adult Lego builder, told the Journal. AdvertisementWhether it's nostalgia or strategic marketing, toy companies are seeing big returns when they rebrand kids products for adult audiences.

Persons: —, Jonny Edmondson, We've, Julia Goldin, Lego's, Sian Twynham, Greta Gerwig's, toymaker Mattel, execs Organizations: Service, Star, Wall Street, Warner Bros, Hasbro, Associated Press

☆ Helen Mirren gets her own Barbie for International Women’s Day
▼ + stars: | 2024-03-06 | by ( Lianne Kolirin | ) edition.cnn.com time to read: +3 min

CNN —Actress Helen Mirren has said she is “blown away” by a new Barbie created in her likeness. The glamorous doll, complete with its own Academy Award, is one of a series of eight launched by toymaker Mattel to mark International Women’s Day on Friday. Mirren, the 78-year-old star who narrated last year’s hit “Barbie” movie, said she regards the creation of the doll as a “huge compliment.”The new dolls were created to mark International Women's Day. And the cherry on top of the cake is my doll having a miniature Oscar. Thank you @barbie @barbiestyle @Mattel”Previous role model dolls have included TV producer Shonda Rhimes, professional skateboarder Sky Brown and Sarah Gilbert, who developed the Covid-19 vaccine.

Persons: Helen Mirren, toymaker Mattel, Mirren, ”, Barbie, “ Elizabeth I, Golda, “, –, Del, I’d, Kylie Minogue, Shania Twain, Viola Davis, Maira Gomez, Lila Avilés, Nicole Fujita, Enissa Amani, Minogue, Kylie, Shonda Rhimes, Sky Brown, Sarah Gilbert, Aude, Krista Berger, she’s Organizations: CNN, Cannes, Mirren, Mattel, Hollywood, Reuters Locations: ”, British, Mexican

☆ Stocks making the biggest moves midday: Instacart, Spirit Airlines, Marathon Digital and more
▼ + stars: | 2024-01-17 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

Following the ruling, Bank of America downgraded Spirit to an underperform rating, while Susquehanna downgraded the airline to negative. Rivian — The electric vehicle manufacturer slid nearly 8% following a downgrade to a hold rating from Deutsche Bank. Polaris , Mattel — The stocks moved following rating changes from Morgan Stanley. Meanwhile, toymaker Mattel slid 2.8% after Morgan Stanley downgraded shares to equal weight, citing lofty consensus estimates and a tough 2024 outlook. Marathon Digital — The crypto mining firm slid 3% during Wednesday's trading session.

Persons: JetBlue's, Sinclair —, Sinclair, SolarEdge — SolarEdge, Teladoc, Davidson, Nutanix, William Blair, Uber, Ford, Morgan Stanley —, Ted Pick, Morgan Stanley, TD Cowen, Gregory Lewis, —, Alex Harring, Yun Li, Pia Singh, Samantha Subin Organizations: Spirit Airlines, JetBlue Airways —, Bank of America, Susquehanna, Interactive, LSEG, Diamond Sports Group, Diamond, Barclays, Broadcom, VMware, Wolfe Research, Deutsche Bank, UBS, JPMorgan, Polaris, Mattel, Automotive, Boeing, Federal Aviation Administration, BTIG, Marathon Digital Locations: Europe, China

OKLAHOMA CITY (AP) — An iconic chief of the Cherokee Nation, Wilma Mankiller, inspired countless Native American children as a powerful but humble leader who expanded early education and rural healthcare. A public ceremony honoring Mankiller’s legacy is set for Tuesday in Tahlequah in northeast Oklahoma, where the Cherokee Nation is headquartered. The rollout of the Barbie doll featuring Mankiller wearing a ribbon skirt, black shoes and carrying a woven basket has been met with conflicting reactions. I didn't know it was coming.”Olaya also wonders how her mother would feel about being honored with a Barbie doll. “I have a warm feeling about the thought of my granddaughters playing with a Wilma Mankiller Barbie,” she said.

Persons: Wilma Mankiller, Mankiller’s, Mankiller, —, ”, Chuck Hoskin, Mattel, ” Hoskin, “ Wilma Mankiller, ” Mankiller, Bessie Coleman, Black, Angelou, Ida B, Wells, Jane Goodall, Madam C.J, Walker, Wilma Barbie, ” Stacy Leeds, Regina Thompson, doesn't, “, ” Thompson, Wilma, ” Mattel, Devin Tucker, Charlie Soap, Kristina Kiehl, Kiehl, “ Regrettably, Felicia Olaya, Olaya, ” Olaya, ‘ I’m, Diana, “ I’m, Wilma Mankiller Barbie Organizations: OKLAHOMA CITY, Cherokee, Cherokee Nation, Indian, Mattel, Arizona State University, Associated Press, AP, Cherokees Locations: toymaker, Tahlequah, Oklahoma, Mankiller, American

☆ Morgan Stanley says this toy stock is a top pick that can rally more than 25%
▼ + stars: | 2023-09-27 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Toymaker Mattel can shine even as the environment for consumer companies looks shaky, according to Morgan Stanley. Analyst Megan Alexander initiated Mattel with an overweight rating, calling it a top pick, and assigned the the stock a price target of $27. That suggests the stock could gain 27.2% over the next 12 months. Alexander noted that headwinds reflecting the tough macroeconomic outlook are partly priced into the stock, but that revisions haven't bottomed yet. "They expect a decline in goods consumption, in particular durable goods, and a deceleration in services consumption."

Persons: Morgan Stanley, Megan Alexander, Alexander, Morgan Stanley's, Michael Bloom Organizations: Mattel

☆ Toymaker Mattel says it will pay someone nearly $18,000 to play and promote its new Uno game
▼ + stars: | 2023-08-02 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

Mattel is hiring a "chief Uno player" to promote its new game, Uno Quatro. The job involves starring in social media content and teaching the game to others in New York. Its main task is to promote Uno Quatro, a variation on the original card game which involves trying to match four-in-a-row using plastic tiles on a grid. It's not just the new Quatro game though, as the chief Uno player will also have to help create social content for "various Uno games." It involves filming yourself answering four simple questions, like your favorite reverse card moment – a move you can make when playing the Uno game.

Persons: Uno Quatro, They'll, It's, Quatro, Uno Organizations: Mattel, Service, Privacy, New, Uno, Seaport Locations: New York, Wall, Silicon, New York City, livestreams

☆ Gap, Looking for Barbie Magic, Hires Mattel’s President as C.E.O.
▼ + stars: | 2023-07-26 | by ( Jordyn Holman | More About Jordyn Holman | ) www.nytimes.com time to read: +1 min

Gap hopes its new chief executive can help it achieve a Barbie-like turnaround. Just days after the blockbuster opening weekend of “Barbie,” Gap, announced on Wednesday that it had hired Richard Dickson of the toymaker Mattel Inc. to become its chief executive officer. Mr. Dickson is Mattel’s and president and chief operating officer and has been at the toymaker since 2000. Over the weekend, the Greta Gerwig-directed “Barbie” brought in $162 million at the North American box office. That success followed months of a can’t-miss-it marketing campaign that put Barbie at the top of mind for a wide range of consumers, from children to adults.

Persons: “ Barbie, Richard Dickson, Dickson, Greta Gerwig, Barbie ”, Barbie, ”, Jonathan Reid, “ Richard Organizations: Mattel Inc, American, Mattel, Fitch

Investors are awaiting Microsoft (MSFT.O), Google-owner Alphabet (GOOGL.O) and Meta Platforms (META.O) earnings this week, which will show whether their stocks justify sky-high valuations. The Nasdaq (.NDX) lagged other indexes as investors looked to non-tech stocks for bargains, lifting sectors from energy to banks. Helping the Dow (.DJI) notch its longest winning streak since February 2017, Chevron (CVX.N) gained almost 2% as the oil giant posted upbeat preliminary quarterly earnings over the weekend. Nine of the 11 major S&P 500 sectors rose, led by a gain in energy stocks (.SPNY). The S&P 500 posted 22 new 52-week highs and one new low; the Nasdaq Composite recorded 58 new highs and 97 new lows.

Persons: Barbie, Randy Frederick, You've, Carol Schleif, Toymaker Mattel, AMC's, decliners, Carolina Mandl, Bansari Mayur Kamdar, Johann M, Shounak Dasgupta, Anil D'Silva, Richard Chang Organizations: Dow, Nasdaq, Mattel, Chevron, Dow Jones, Federal Reserve, Schwab Center, Financial Research, Microsoft, Google, Investors, BMO Family Office, Reuters, AMC Entertainment, NYSE, Thomson Locations: New York, Bengaluru

Investors are awaiting Microsoft (MSFT.O), Google-owner Alphabet (GOOGL.O) and Meta Platforms (META.O) earnings this week, which will show whether their stocks justify sky-high valuations. The Nasdaq (.NDX) lost steam during the session as investors looked to non-tech stocks for bargains, lifting sectors from energy to banks. Barclays' head of U.S. equity strategy Venu Krishna said in a note to clients that investors are differentiating between tech companies. A few Big Tech names are driving all of the earnings upside, while the outlook for the "Rest of the Tech" is deteriorating, he said. Helping the Dow (.DJI) notch its longest winning streak since February 2017, Chevron (CVX.N) gained as the oil giant posted upbeat preliminary quarterly earnings over the weekend.

Persons: Barbie, Randy Frederick, Venu Krishna, You've, Carol Schleif, Toymaker Mattel, AMC's, Carolina Mandl, Bansari Mayur Kamdar, Johann M, Shounak Dasgupta, Anil D'Silva, Richard Chang Organizations: Chevron, Dow, Dow Jones, Federal Reserve, Schwab Center, Financial Research, Microsoft, Google, Nasdaq, Barclays, Big Tech, Tech, Investors, BMO Family Office, Reuters, AMC Entertainment, Thomson Locations: U.S, New York, Bengaluru

The action-packed week also includes the Fed's policy meeting, with the central bank expected to raise interest rates by 25 basis points on Wednesday. As of Friday, second-quarter earnings are expected to decline by 7.9%, according to Refinitiv data. The tech-heavy Nasdaq (.IXIC) has rallied 34% so far this year, outperforming its Wall Street peers, as rate-sensitive megacap growth companies jumped on hopes of an end to the Fed's tightening cycle and optimism over AI. Ten of the 11 major S&P 500 sectors were higher, led by a 2.1% gain in energy stocks (.SPNY). The S&P index recorded 14 new 52-week highs and one new lows, while the Nasdaq recorded 41 new highs and 67 new lows.

Persons: Barbie, Chris Zaccarelli, Toymaker Mattel, AMC's, Bansari Mayur Kamdar, Johann M, Shounak Dasgupta, Anil D'Silva Organizations: Chevron, Dow, Nasdaq, Federal Reserve, Microsoft, Google, Reuters, Independent, Alliance, Dow Jones, AMC Entertainment, NYSE, Thomson Locations: Bengaluru

☆ 'Barbie' buzz likely just a flash in the pan for toymaker Mattel
▼ + stars: | 2023-07-24 | by ( Savyata Mishra | ) www.reuters.com time to read: +3 min

July 24 (Reuters) - The fanfare around Margot Robbie-starrer "Barbie" could jolt the iconic Mattel (MAT.O) doll's sales out of a year-long slump, but Wall Street thinks the party in pink will be short-lived. While Mattel will report second-quarter results on Wednesday, days after the theatrical release of the movie, analysts say the boost for Barbie sales will be most pronounced in the quarter ending Sept. 29 before tapering off. Retailers worldwide have also pitched in, with brands from Zara (ITX.MC) to H&M (HMb.ST) and Gap rolling out themed merchandise like Barbie hoodies, perfumes and toothbrushes. But its gross billings - or the amount invoiced to customers - fell behind Hot Wheels in the first quarter of 2023. Mattel's forward 12-month price-to-earnings multiple (P/E), a common benchmark for valuing stocks, is 16.01, higher than 13.6 for Hasbro.

Persons: Margot Robbie, Barbie, Arpiné Kocharyan, Kocharyan, Ryan Gosling, Ken, Warner Bros, Zachary, Carol Osborne, Savyata Mishra, Devika Organizations: Mattel, UBS, Warner, Sunday, Reuters Graphics Reuters, CFRA Research, University of South, Muma College of Business, Hasbro, Thomson Locations: Zara, United States, Canada, Bengaluru

Last week, Netflix (NFLX.O) and Tesla (TSLA.O) posted less-than-stellar quarterly reports. The electric-vehicle maker eased 1.3% in premarket trading after UBS downgraded its rating on the stock, while other megacap growth and technology shares edged higher. ET, Dow e-minis were up 44 points, or 0.12%, S&P 500 e-minis were up 8.75 points, or 0.19%, and Nasdaq 100 e-minis were up 35.25 points, or 0.23%. AMC Entertainment (AMC.N) jumped 47.5% after a judge blocked the theater chain's stock conversion plan that risked diluting investors' holdings in the company. Reporting by Bansari Mayur Kamdar and Johann M Cherian in Bengaluru; Editing by Saumyadeb Chakrabarty and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Barbie, Sophie Lund, Yates, Hargreaves Lansdown, Mattel, AMC's, Bansari Mayur Kamdar, Johann M, Saumyadeb Chakrabarty, Shounak Organizations: UBS, Dow, Nasdaq, Federal Reserve, Microsoft, Netflix, Reuters, Fed, Dow e, Warner Bros, AMC Entertainment, Global, PMI, Thomson Locations: Bengaluru

Meanwhile, the tech-heavy Nasdaq (.IXIC) lagged in the previous session as earnings reports from Tesla (TSLA.O) and Netflix (NFLX.O) failed to dazzle. The megacap electric automaker recovered 1.1% in premarket trading on Friday, while the streaming video company edged higher. The NYSE FANG+TM index (.NYFANG) that houses the megacap growth names also closed 4.6% lower in the previous session, notching its worst day so far in 2023. ET, Dow e-minis were up 13 points, or 0.04%, S&P 500 e-minis were up 11 points, or 0.24%, and Nasdaq 100 e-minis were up 73.75 points, or 0.47%. Reporting by Bansari Mayur Kamdar and Johann M Cherian in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Johnson, Powell, David Mericle, Goldman Sachs, Toymaker Mattel's, Morgan Stanley, Bansari Mayur Kamdar, Johann M, Shinjini Organizations: Mattel, Dow, Nasdaq, Johnson, Tesla, Netflix, NYSE, Dow e, American Express, Investors, Thomson Locations: Bengaluru

☆ Morningstar's chief U.S. market strategist shares his outlook for the economy and ways to play the market turbulence ahead
▼ + stars: | 2023-04-27 | by ( Samantha Subin | ) www.cnbc.com time to read: +6 min

But even in a turbulent environment, there are value opportunities for investors who look carefully, according to Dave Sekera, Morningstar's chief U.S. market strategist. "We think the stock market is undervalued," Sekera told CNBC during an interview at the Morningstar Investment Conference in Chicago. "However, I'd say at this point, the easy returns have already been made thus far this year, and I do see a rough road ahead for the next couple of quarters for the stock market in general." For regional bank stocks, Morningstar expects earnings to slowly decline through 2023. Today, Morningstar views many of those names, in areas such as energy, healthcare and consumer defensives, as fully valued.

☆ Shopify launches new subscription product to lure big retail clients
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +1 min

Jan 3 (Reuters) - Shopify Technologies Inc on Tuesday launched a new service aimed at big retailers that will allow them to select tools and services the Canadian tech giant offers and integrate it with their own online platform. Shopify, which helps businesses set up their online store and website for a subscription fee, will allow retailers to pick and choose components, such as checkout and other back-office services, for their existing online businesses. The pricing for the service, called Commerce Components, will depend on the retailer's customization and components they choose to use. Currently, subscription for Shopify Plus starts at $2,000 a month and basic costs of $29. Reporting by Nivedita Balu in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

ChatGPT — an artificial intelligence-powered chatbot — is having a viral moment, offering a high-profile glimpse at the maturing technology's capabilities. Like other GPT models, ChatGPT can generate text in a variety of styles and formats, including responses to questions, descriptions, and even entire conversations. The growth of Azure is central to our long-term investment thesis in Microsoft, and artificial intelligence is playing an increasingly prominent role in cloud computing. Additionally, Club holding Alphabet is no stranger to artificial intelligence — and, more specifically, machine learning. While all three models — ChatGPT, Sparrow and LaMDA — have their differences, they share a foundational network architecture known as Transformer.

[1/3] The logo for Google LLC is seen at the Google Store Chelsea in Manhattan, New York City, New York, U.S., November 17, 2021. A strong dollar has hurt the overseas profits of large firms, while soaring inflation has prompted interest rate hikes and companies to raise product prices, even as consumers have been forced to cut spending. Google's results bode ill for Facebook parent Meta Platforms (META.O), which is especially reliant on advertising and reports results on Wednesday. Last week, its smaller rival Snap Inc (SNAP.N) forecast no revenue growth for the holiday quarter, setting off warning bells in the social media industry. Shares in Spotify (SPOT.N), which also warned on slow advertising growth, slid 4%.

[1/3] The logo for Google LLC is seen at the Google Store Chelsea in Manhattan, New York City, New York, U.S., November 17, 2021. Google's results bode ill for Facebook parent Meta Platforms (META.O), which is especially reliant on advertising and reports results on Wednesday. Microsoft fell 2% and chipmaker Texas Instruments , which forecast quarterly revenue and profit below estimates, was down 5%. Shares in Spotify (SPOT.N), which also warned on slow advertising growth, slid 4%. "During the quarter we experienced expected weakness in personal electronics and expanding weakness across industrial," said TI boss Rich Templeton.

Shares of the California-based toymaker fell about 4% in extended trade, after it also missed quarterly sales estimates for the first time since March 2020. Earlier this month, Hasbro Inc (HAS.O) tempered its full-year revenue outlook and warned that demand was starting to slip ahead of the festive season. Mattel, meanwhile, expects demand to accelerate during the crucial holiday shopping season, but said it would conduct more promotions to remain competitive. However, excluding items, the company earned 82 cents per share, beating estimates of 74 cents. Reporting by Uday Sampath and Ananya Mariam Rajesh in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

☆ Toymaker Mattel cuts annual profit forecast as inflation drags demand
▼ + stars: | 2022-10-25 | by ( ) www.cnbc.com time to read: +1 min

The Mattel sign is pictured at the Nuremberg International Toy Fair, Jan. 29, 2014, in Nuremberg, Germany. Mattel Inc cut its annual profit forecast on Tuesday and said it would ramp up promotions heading into the busy holiday season, as price hikes discourage inflation-hit Americans from spending on its Barbie dolls and action figures. Mattel, meanwhile, expects demand to accelerate during the crucial holiday shopping season, but said it would conduct more promotions to remain competitive. Mattel reduced its 2022 adjusted profit forecast to between $1.32 and $1.42 per share from $1.42 to $1.48 earlier, but its raised prices helped the toymaker post adjusted gross margin of 48.3% in the third quarter, compared with last year's 47.8%. The Fisher-Price toys maker reiterated its forecast for full-year sales.

☆ Toymaker Mattel agrees to pay $3.5 million SEC fine for misstatements in 2017 earnings
▼ + stars: | 2022-10-21 | by ( Chelsey Cox | ) www.cnbc.com time to read: +2 min

Toymaker Mattel has agreed to pay a $3.5 million fine to settle charges related to misstatements in two quarters of earnings in 2017, the Securities and Exchange Commission announced Friday. The SEC said Mattel "violated numerous professional standards" by understating its tax-related valuation for the third quarter of 2017 by $109 million. Mattel's $109 million tax expense error went uncorrected until its November 2019 restatement. The SEC said Mattel did not admit or deny the findings of its probe. While we're not going to comment on the underlying facts, we appreciate the SEC's recognition of the company's remedial measures," a Mattel company spokesperson said Friday.

☆ Toymaker Mattel agrees to pay $3.5 million to settle SEC charges
▼ + stars: | 2022-10-21 | by ( Chris Prentice | ) www.reuters.com time to read: +2 min

WASHINGTON, Oct 21 (Reuters) - California-based Toymaker Mattel Inc (MAT.O) has agreed to pay $3.5 million to settle U.S. Securities and Exchange Commission (SEC) charges over financial misstatements in 2017, the agency said on Friday. Mattel, which makes Barbie and Fisher-Price toys, incorrectly reported its losses during the third and fourth quarters of 2017 due to tax reporting errors, the SEC said. The issue went uncorrected until November 2019 and the lack of internal control for financial reporting related to the error remained undisclosed. A spokesperson for Mattel, which did not admit or deny the SEC's findings, said the firm is pleased to have the matter behind it. He further failed to maintain auditor independence by advising Mattel's then-chief financial officer about who should be selected for a senior position at the company.

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