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☆ How Young Is Too Young for a Crop Top?
▼ + stars: | 2023-10-28 | by ( Rory Satran | ) www.wsj.com time to read: 1 min

For mini Swifties and Alabama sorority girls-to-be, the Dallas boutique Dear Hannah Prep is a pink-and-green, balloon-filled wonderland. And crop tops. Lots and lots of crop tops. For many tweens—and their parents—crop tops are a cute, innocent way to express their burgeoning interest in fashion, and their body positivity. Despite, or perhaps because of, their divisiveness, crop tops for tweens have become big business.

Persons: Hannah, Barbie, St, Tropez, “ Slay Organizations: Dallas Locations: Alabama

☆ Coco Gauff Has Grabbed Our Attention
▼ + stars: | 2023-10-28 | by ( Liz Robbins | ) www.nytimes.com time to read: +1 min

Hours after winning her first United States Open tennis championship, in September, Coco Gauff took her Tiffany trophy for a nighttime swirl around the tournament grounds. 1 single from Nicki Minaj and Ice Spice:“I’m bad like the Barbie/I’m a doll, but I still want to party.”At 19, Gauff met the cultural moment and made it her own. They capture the essence of moments,” said Kirby Porter, the founder of New Game Labs, a marketing firm that helps start-ups work with athletes. I literally downloaded it, and I was like, ‘Yes, Mood!’ That’s exactly how I feel.”Born into a new generation of athlete creators, Gauff became the M.C. She not only raised her own profile, but lifted women’s tennis in need of a new celebrity after the retirement of Serena Williams.

Persons: Coco Gauff, Tiffany, Nicki Minaj, Gauff, ”, Kirby Porter, “, Gen, Serena Williams Organizations: United States, ”, New, Labs

☆ Look of the Week: LeBron James flies the flag for the man bag
▼ + stars: | 2023-10-27 | by ( Leah Dolan | ) edition.cnn.com time to read: +3 min

CNN —Four-time NBA champion LeBron James is the latest male celebrity to be spotted out and about wearing a high-fashion bag. James arrived in Denver wearing a green Louis Vuitton Speedy bag. Jacob Elordi was seen this summer in an array of it bags, including this burgundy Valentino Loco bag. Indeed, men wearing bags are consistently the butt of jokes in internet memes, comic strips, and even stand-up comedy sets. Doubtless it’s a dedication appreciated by the likes of James, Elordi, A$AP and Tyler, whose street style looks contribute further proof — were any needed — that man purses are enjoying a newfound socio-cultural appreciation.

Persons: LeBron James, James, Louis Vuitton, Garrett Ellwood, Kim Kardashian, Rihanna, Jacob Elordi, Sofia Coppola’s, “ Priscilla ”, Burberry Sanford, Valentino, James ’, “, ”, Tyler, — Tyler, Alessandro Levati, Joey, Chandler, Ross, Andrew Schulz, Rocky, Jackson Lee, Pharrell, Elordi Organizations: CNN, Ball, LA Lakers, Denver’s Nuggets, Burberry, tote, GQ Magazine, Louis Vuitton Locations: Denver , Colorado, Denver, bro

☆ Italian mother wins court case to evict two sons in their 40s
▼ + stars: | 2023-10-27 | by ( Barbie Latza Nadeau | ) edition.cnn.com time to read: +2 min

At least for a 75-year-old woman in the northern Italian city of Pavia who won a court order after suing to have her sons, aged 40 and 42, removed from her house, a court clerk in Pavia told CNN Friday. Both men are employed, the court documents state. On average, Italians leave their parental home at the average age of 30, according to Eurostat 2022 data. Croatia is the highest in the European Union, with an average age of 33.4 years. By contrast, offspring in Finland, Sweden and Denmark start life on their own at the average age of 21, according to the same data.

Persons: ”, Simona Caterbi, Caterbi Organizations: CNN, La Provincia Pavese, Italy’s, European Union Locations: Italian, Pavia, Croatia, Finland, Sweden, Denmark

☆ Why food giants are rushing into a world of mustard Skittles and caviar-topped Pringles
▼ + stars: | 2023-10-27 | by ( Laura Petrecca | ) www.cnbc.com time to read: +2 min

A "crisps and caviar" snack kit from Pringles and The Caviar Co. While brand partnerships are a tried-and-true tactic to get attention, the marketing mashups of 2023 take it to a whole new level. Waning consumer attention spans and the escalating number of marketing messages have forced companies to find novel ways to break through. Beanstalk put together the partnership between Kellogg's Pringles brand and The Caviar Co. after noticing a trend on TikTok where users added a dollop of caviar on the chip. The three caviar kits, priced at $49, $110, and $140 — which include separate containers of Pringles and caviar — went viral on social media, with users posting videos of the kits and doing taste tests.

Persons: Tiffany, Burger King, Daniel Anderson, Allison Ames Organizations: Nike, Revlon, Stone Creamery, Kellogg's, Housewives, New Locations: New York

NEW YORK (AP) — The fallout from the actors strike, now past 100 days, has been widespread throughout the film industry. As the strike pushes into Hollywood’s awards season, it’s increasingly muting the reception for some of the best performances of the year. With so many out of work due to the strike, no one should cry for muzzled Oscar campaigns. Just as Carney’s “Once” was a breakthrough for Glen Hansard and Markéta Irglová, Hewson is a revelation in “Flora and Son.” (Streaming on Apple TV+)COLMAN DOMINGOColman Domingo has long been a powerhouse on screen. The film is set mainly during the run-up to the 1963 March on Washington, which Rustin was the architect of.

Persons: haven’t, it’s, muzzled Oscar, Sandra Hüller, “ Priscilla ” –, Barbie ”, “ Oppenheimer, ”, —, Andrew Scott, ” Aunjanue Ellis, Emma Stone, ” Jeffrey Wright, Carey Mulligan, “ Maestro, LILY GLADSTONE Martin, Scorsese, Leonardo DiCaprio, Ernest Burkhart, Robert De Niro, William Hale, Lily Gladstone’s, Mollie Kyle, she’s, PAUL GIAMATTI, DA’VINE JOY RANDOLPH, DOMINIC SESSA, Alexander Payne’s “, there’s Paul Giamatti, Payne, Randolph, JAMIE FOXX Jamie Foxx, Maggie Betts ’, Tommy Lee Jones, Foxx, Jones, JODIE FOSTER Elizabeth Chai Vasarhelyi, Jimmy Chin’s, Annette Bening, Diana Nyad, Jodie Foster’s, Bonnie Stoll, Nyad’s, “, Foster, GABRIEL GARCÍA BERNAL “ Cassandro, Cassandro . Bernal, Perros ”, HEWSON, Eve Hewson, Bono, Steven Soderbergh’s “, John Carney’s “, Hewson, Joseph Gordon, Levitt, Orén, Glen, Markéta Irglová, COLMAN DOMINGO Colman Domingo, “ Zola, George C, Wolfe's “ Rustin, Bayard Rustin, Domingo, Rustin, AARON PIERRE, Garth Davis, Aaron Pierre, Saoirse Ronan, Paul Mescal, Pierre, PHOEBE DYNEVOR, ALDEN EHRENREICH, Chloe Domont's, Phoebe Dynevor, Alden Ehrenreich, it's, MARSHAWN LYNCH, Marshawn Lynch, Emma Seligman’s, Rachel Sennott, Edebiri, Lynch, It’s, he’s Organizations: ”, SAG, Amazon Prime, Netflix, Apple, NFL Locations: “, Vietnam, Mississippi, Dublin, “ Flora, Washington

☆ CNBC Daily Open: Meta outperformance
▼ + stars: | 2023-10-26 | by ( Clement Tan | ) www.cnbc.com time to read: +3 min

(Photo by Spencer Platt/Getty Images)This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. In its third-quarter earnings report, the Facebook parent said revenue increased 23%, its fastest rate of growth since 2021. Meta is seeing faster growth in its core digital advertising business as clients rebound from a tough 2022. Meta said it expects revenue of $36.5 billion to $40 billion for the fourth quarter.

Persons: Stocks, Spencer Platt, Ford, Mattel, Meta, Mark Zuckerberg’s, Susan Li, —, Jonathan Vanian Organizations: NEW, New York Stock Exchange, Labor Department, Getty, CNBC, Labor, United Auto Workers, IBM, Wall, Google, Meta, Labs, Treasury Locations: New York City, China, Israel

☆ Stocks making the biggest moves before the bell: Hasbro, Southwest, Hershey, Royal Caribbean and more
▼ + stars: | 2023-10-26 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Hasbro earned $1.64 per share excluding items on $1.5 billion in revenue, while analysts polled by LSEG had anticipated $1.70 per share in earnings and revenue at $1.64 billion. Southwest posted $6.53 billion in revenue, while analysts surveyed by LSEG expected $6.57 billion. Bristol-Myers topped earnings expectations and posted revenue that was in line with expectations. ServiceNow — The software stock rose more than 3% after posting stronger-than-expected quarterly results and sharing solid subscription revenue expectations for the current period. UPS – The shipping company saw shares decline 3% premarket following its third quarter earnings report.

Persons: LSEG, Revlimid, Myers, Overstock.com, Hershey, overshadowing, Mattel —, ServiceNow, it's, Silver Lake, —, Sarah Min, Tanaya Macheel, Samantha Subin, Lisa Kailai Han, David Paul Morris Organizations: Hasbro, Southwest —, Southwest, Myers, Bristol, Overstock.com, FactSet, Royal Caribbean, Mattel, Wednesday, UPS, Endeavor Group Holdings, Endeavor, Holdings, WWE, UFC, Barclays —, Bank of America, Barclays, underperform, Hasbro Inc, Target Corp, Bloomberg, Getty Locations: Bristol, Nextracker, FactSet, Thursday's premarket, Emeryville , California, U.S

☆ The US economy grew at a robust 4.9% rate in the third quarter
▼ + stars: | 2023-10-26 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Gross domestic product, a measure of all goods and services produced in the economy, grew at an annualized 4.9% rate in the third quarter, the Commerce Department reported Thursday. Robust consumer spending fueled growth in the third quarter, a sign of the economy’s surprising resilience in the face of tougher borrowing costs and persistently high inflation. Spending grew from July through September by an annualized rate of 4%, its strongest pace since the fourth quarter of 2021. Residential fixed investment, which reflects conditions in the housing market, advanced at a 3.9% annualized rate in the third quarter, Thursday’s GDP report showed. That’s down from a peak of 5.6% in early 2022, but well above the Fed’s inflation goal.

Persons: splurged, Taylor Swift, Barbie, outlays, ”, Jeffrey Roach, Jerome Powell, Powell, ” Powell Organizations: DC CNN, Gross, Commerce Department, LPL, Federal Reserve, Economic, of New Locations: Washington, of New York, United States

Hasbro's third-quarter revenue performance missed Wall Street's expectations and the company cut its full-year revenue outlook again as signs of a possible industry slowdown in toy sales heading into the holiday season weighs on jittery investors. Holiday shopping is traditionally a critical selling season for toy companies and can comprise a large portion of their annual toy sales. Rival Mattel Inc. had a better third quarter, reporting on Wednesday that its sales rose 9% in the period. Still, experts are pointing to toy industry sales being down for the year to date and the third quarter as a concern. Mattel Chairman and CEO Ynon Kreiz said during a conference call on Wednesday that the company anticipates the global toy industry will experience a mid single-digits decline in toy sales for the full year.

Persons: Barbie, Ynon Kreiz Organizations: Zacks Investment Research, Hasbro, Mattel Inc, Mattel Locations: Pawtucket, Rhode Island

☆ Sandro Tonali: Newcastle United and Italy midfielder banned for 10 months for violating betting regulations
▼ + stars: | 2023-10-26 | by ( Ben Morse | ) edition.cnn.com time to read: +3 min

CNN —Newcastle United and Italy midfielder Sandro Tonali has been banned for 10 months for violating betting regulations, the president of the Italian Football Federation (FIGC), Gabriele Gravina, said on Thursday. Tonali signed for Newcastle in the summer for a reported fee of $74 million, per Reuters. Tonali came on as a second-half substitute in Newcastle’s Champions League defeat to Borussia Dortmund on Wednesday. The decision comes just weeks after Juventus midfielder Nicolò Fagioli was handed a seven-month ban and fined €12,500 ($13,200) for also breaching betting rules. Tonali and his fellow Italy international teammate Nicolò Zaniolo withdrew from the national team squad earlier this month after their involvement in gambling investigations was released.

Persons: Sandro Tonali, Gabriele Gravina, “, ”, Gravina, Tonali, Eddie Howe, Reuters –, Nicolò Fagioli, Nicolò Zaniolo, Zaniolo, CNN’s Barbie Nadeau Organizations: CNN, Newcastle United, Italian Football Federation, Federal Prosecutor’s, Sky24, Newcastle, AC Milan, men’s, Newcastle’s Premier League, Crystal, BBC, FIFA, UEFA, Reuters, Serie, League, Newcastle’s Champions League, Borussia Dortmund, Wednesday, Juventus, Italy Locations: Italy, Italian

On the earnings front, United Parcel Service (UPS.N) dipped 3.5% after lowering its full-year revenue forecast, while Royal Caribbean Group (RCL.N) rose 2.5% after the cruise company raised its full-year profit forecast. Hasbro (HAS.O) fell 8.2% after the maker of Transformers action figures cut its annual revenue forecast. So far, 80% of the 146 S&P 500 companies that have reported results have beat earnings expectations, LSEG data showed on Wednesday. ET, Dow e-minis were down 151 points, or 0.46%, S&P 500 e-minis were down 30.75 points, or 0.73%, and Nasdaq 100 e-minis were down 146.25 points, or 1.01%. Align Technology (ALGN.O) tanked 23.9% after the dental company lowered its full-year revenue forecast.

Persons: Brendan McDermid, Tesla, Bob Savage, BNY Mellon, Ankika Biswas, Shashwat Chauhan, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Ford, UAW Futures, Dow, Nasdaq, Big Tech, Treasury, Microsoft, United Parcel Service, Royal Caribbean Group, Hasbro, Mattel, Market, BNY, Federal Reserve, Dow e, Hamas, Ford Motor, United Auto Workers, Technology, Thomson Locations: New York City, U.S, Israel, Gaza, Russia, Bengaluru

☆ Hasbro cuts revenue view, joins Mattel to warn of cloudy holiday quarter
▼ + stars: | 2023-10-26 | by ( Savyata Mishra | ) www.reuters.com time to read: +2 min

REUTERS/Andrew Kelly/File photo Acquire Licensing RightsOct 26 (Reuters) - Hasbro (HAS.O) cut its annual revenue forecast for the second time this year on weak toy demand and joined Barbie-maker Mattel to warn of choppy holiday-quarter sales, sending its shares down 12% before the bell. The Monopoly maker expects 2023 revenue to tumble 13% to 15% compared to a prior forecast of a 3% to 6% decline. Its third-quarter revenue and profit also missed market expectations, with revenue from its core toy business dropping 18% as shoppers cut back on non-essential spending. Hasbro saw a 40% surge in digital and licensed gaming revenue on strong demand for its "Monopoly Go" and "Baldur's Gate III" games. Analysts have warned that uncertain holiday spend and softer toy demand could prompt retailers to keep supply tight and offer steep discounts to avoid a pile-up like last year.

Persons: FAO Schwarz, Andrew Kelly, Barbie, Chris Cocks, James Zahn, Savyata Mishra, Arun Koyyur Organizations: Hasbro, Inc, FAO, REUTERS, Mattel, Consumer Products, Thomson Locations: Manhattan , New York City, U.S, Bengaluru

☆ CNBC Daily Open: Shiny Meta
▼ + stars: | 2023-10-26 | by ( Clement Tan | ) www.cnbc.com time to read: +3 min

(Photo by Spencer Platt/Getty Images)This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. But in its third-quarter earnings report, Meta revealed its Reality Labs unit, which develops metaverse-related technologies, recorded a $3.74 billion operating loss. IBM beatsIBM shares rose 1% in extended trading after the technology conglomerate announced third-quarter results that exceeded Wall Street estimates. New Morgan Stanley CEOMorgan Stanley said Ted Pick will succeed James Gorman as CEO at the start of 2024.

Persons: Stocks, Spencer Platt, Rosy Meta Meta, Meta, Mattel, Max, New Morgan Stanley, Morgan Stanley, Ted Pick, James Gorman Organizations: NEW, New York Stock Exchange, Labor Department, Getty, CNBC, Treasury, Nasdaq, Dow Jones, Rosy Meta, Facebook, Labs, IBM, Wall, Boeing, New Locations: New York City

☆ The 'Barbie' movie turning into a global phenomenon helped boost sales for the plastic doll – but not by as much as you might expect
▼ + stars: | 2023-10-26 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Greta Gerwig's "Barbie" movie pushed up sales for the iconic doll, Mattel execs say. Global gross billings in the quarter were up 14%, but this wasn't enough to offset poor performance in the first half of 2023. AdvertisementAdvertisementGreta Gerwig's "Barbie" blockbuster helped boost sales for the plastic doll following a poor performance in the first half of the year. North America made up around 58% of Barbie's total gross billings, and saw a much bigger rise — gross billings were up 26% to $349.9 million in the quarter. Global gross billings were down 6% in the year to September compared to the same period in 2022.

Persons: Greta Gerwig's, Mattel, —, Barbie, Ynon Kreiz, Kreiz, Barbie repositions Mattel, Gross, Anthony DiSilvestro, Mattel execs, Ruth Handler —, Rhea Perlman Organizations: Global, billings, Service, Mattel Locations: Hollywood, billings, America

☆ Hasbro, Mattel shares plunge as toymakers forecast a lackluster holiday season
▼ + stars: | 2023-10-26 | by ( Drew Richardson | ) www.cnbc.com time to read: +2 min

Shares of Hasbro and Mattel sank on Thursday, as both toymakers suggested sales will slow in the fourth quarter. The companies face challenges entering the critical fourth quarter, they said as they separately reported third-quarter earnings. Toys and games, products both Hasbro and Mattel are known for, could be on the chopping block this season as consumers watch their spending. Mattel's implied fourth quarter guidance on toy sales offered Wednesday also spooked Wall Street, despite its strong third-quarter results. Hasbro's revenue fell 10% for the quarter compared to the year-ago period, largely driven by decreases in its consumer and entertainment segments.

Persons: Chris Cocks, Mattel's Organizations: Hasbro, Mattel, Citi Research, LSEG, Lionsgate

☆ Mattel’s ‘Barbie’ Movie Boosts Toy Sales
▼ + stars: | 2023-10-25 | by ( Ben Glickman | ) www.wsj.com time to read: 1 min

Greta Gerwig’s “Barbie” topped more than $1 billion in global ticket sales, according to research firm Comscore. Photo: Warner Bros. Pictures/Associated PressMattel ’s bet on “Barbie” is paying off, with the summer big-screen hit lifting the toy maker out of its quarterly sales slump. Mattel’s runaway box-office hit boosted sales of dolls, accessories and Dreamhouses, fueling a 9% increase in third-quarter sales that topped Wall Street’s estimates.

Persons: Greta Gerwig’s “ Barbie ”, Associated Press Mattel, “ Barbie ” Organizations: Warner Bros ., Associated Press

☆ Mattel reports spike in earnings thanks to Barbie and Hot Wheels
▼ + stars: | 2023-10-25 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

Worldwide gross billings, or the amount invoiced to customers, for dolls rose 27%, bringing in $885 million to Mattel in the third quarter. Meanwhile, vehicles — mainly driven by Hot Wheels — rose 18% to $519 million compared to the same quarter a year ago. The company reported $146.3 million in net income during the quarter, down 50% from the $289.9 million it reported in the same quarter a year ago. Customers were also snatching up Hot Wheels toys, which partly offset the declines in action figures, building sets and games. Mattel said it sold $350 million worth of Barbie products in the quarter.

Persons: “, Barbie, Disney, Ynon Kreiz, Greta Gerwig, “ Barbie, Kreiz, Parija Kavilanz Organizations: New, New York CNN, Mattel, Disney, Warner Bros, CNN, Warner Bros . Locations: New York, North America, United States

☆ Stock Market News Today: Dow, Nasdaq Slip; Alphabet Stock Price Falls
▼ + stars: | 2023-10-25 | by ( ) www.wsj.com time to read: +1 min

Some of the stock market's behemoths are badly underperforming in midday trading, weighing on the broader market. Alphabet's stock is down more than 9% after reporting its quarterly results , a warning sign to some investors about the resilience of tech stocks after a banner year . Stay tuned: The earnings deluge continues today, with Facebook parent Meta Platforms , Barbie maker Mattel and IBM due to report after the closing bell. The tech-heavy Nasdaq and S&P 500 were in the red, while the Dow industrials were slightly higher. Yields on benchmark 10-year Treasury notes inched up, but held below the 16-year high of 5% reached Monday.

Persons: Stocks, inched Organizations: Apple, Nvidia, Microsoft, Facebook, Mattel, IBM, Nasdaq, Dow, Germany's Deutsche Bank

☆ Mattel CEO Ynon Kreiz talks Q3 earnings with Jim Cramer
▼ + stars: | 2023-10-25 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMattel CEO Ynon Kreiz talks Q3 earnings with Jim CramerMattel CEO Ynon Kreiz joins 'Mad Money' host Jim Cramer to talk Q3 earnings, the Barbie movie, what's ahead for the company and more.

Persons: Ynon Kreiz, Jim Cramer Mattel, Jim Cramer Organizations: Mattel

☆ 'Barbie' boom helps Mattel lift annual profit target after bumper sales
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

Barbie dolls, a brand owned by Mattel, are seen at the FAO Schwarz toy store in Manhattan, New York City, U.S., November 24, 2021. The company now expects annual adjusted earnings per share between $1.15 and $1.25, compared with its previous forecast of $1.10 to $1.20. read moreWorldwide gross billings, or the amount invoiced to customers, for Mattel's Dolls segment rose 24% in constant currency for the quarter. Mattel slightly raised its annual adjusted gross margin target to between 47% and 48%, after margins for the quarter ended Sept. 30 rose 270 basis points to 51%. Adjusted profit per share came in at $1.08, beating analysts' estimate of 86 cents, according to LSEG data.

Persons: Barbie, FAO Schwarz, Andrew Kelly, Ynon Kreiz, Kreiz, Juveria Tabassum, Devika Organizations: Mattel, FAO, REUTERS, Reuters, Thomson Locations: Manhattan , New York City, U.S

☆ Stock Market News Today: Nasdaq Falls 300 Points; Alphabet Stock Price Falls After Earnings
▼ + stars: | 2023-10-25 | by ( ) www.wsj.com time to read: +1 min

Some of the stock market's behemoths badly underperformed, weighing on the broader market. Alphabet's stock closed down more than 9% after reporting its quarterly results , a warning sign to some investors about the resilience of tech stocks after a banner year . Stay tuned: The earnings deluge continues today, with Facebook parent Meta Platforms , Barbie maker Mattel and IBM due to report after the closing bell. Stocks fell. Chip stocks fell after Texas Instruments reported lackluster quarterly results.

Persons: Stocks, Chip Organizations: Apple, Nvidia, Microsoft, Facebook, Mattel, IBM, Nasdaq, Texas, Germany's Deutsche Bank

REUTERS/Arriana McLymore/File Photo Acquire Licensing RightsMADRID/LONDON, Oct 25 (Reuters) - Zara owner Inditex (ITX.MC), the world's biggest clothing retailer, has agreed to buy recycled polyester from U.S. start-up Ambercycle, the companies said on Wednesday. As fast-fashion retailers face pressure to reduce waste and use recycled fabrics, Inditex is spending more than 70 million euros ($74 million) to secure supply of Ambercycle's recycled polyester made from textile waste. Under the offtake deal, Inditex will buy a "significant" portion of Ambercycle's production of recycled polyester, which is sold under the brand cycora, over three years. Textile-to-textile polyester recycling is in its infancy, though, and will take time to reach the scale required by global fashion brands. The Ambercycle deal marks the latest in a series of investments made by Inditex into textile recycling start-ups.

Persons: Arriana, Inditex, Zara Athleticz, Javier Losada, Corina Pons, Helen Reid, Cynthia Osterman, David Holmes Organizations: REUTERS, Infinited, Thomson Locations: Zara's Soho, New York City, U.S, MADRID, LONDON, Zara, Los Angeles, Circ, Spain

☆ Mattel says Barbie sales grew 16% as blockbuster movie became a phenomenon
▼ + stars: | 2023-10-25 | by ( Drew Richardson | ) www.cnbc.com time to read: +2 min

Mattel on Wednesday said Barbie sales jumped 16% in the third quarter, riding the wave of the blockbuster movie. The "Barbie" film, released in July, is largely responsible for the bump, Mattel said. Mattel said Hot Wheels sales jumped 22% when compared to the same three-month period last year. Earlier this year, car makeover competition series "Hot Wheels: Ultimate Challenge" premiered on NBC. Mattel also announced last year that a Hot Wheels film is in the works with Warner Bros. , the studio behind "Barbie."

Persons: Barbie, Mattel, Ynon Kreiz, Barbie isn't Organizations: Malibu, Mattel, LSEG, Revenue, NBC, Warner Bros, CNBC Locations: New York City

☆ Mattel CEO says opportunity lies beyond the toy aisle: 'We are here to build film franchises'
▼ + stars: | 2023-10-25 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

In an interview with CNBC's Jim Cramer, Mattel CEO Ynon Kreiz said his company's goals are growing beyond the toy aisle and into capturing the value of its brands' intellectual property for ventures like film franchises. "We are here to build film franchises," Kreiz said. Kreiz said the Barbie was a showcase for what Mattel can bring to the table in the future. "This is about how do you take successful brands and execute an IP strategy across multiple verticals, highly-accredited business verticals that in some cases are bigger than the toy industry, all driven by big franchises," Kreiz said. Mattel also saw 19% growth in its sales of Hot Wheels toys this quarter, and Kreiz said the company sees "tremendous opportunity ahead" with the brand, mentioning the upcoming live-action Hot Wheels film produced by JJ Abrams.

Persons: CNBC's Jim Cramer, Ynon Kreiz, Kreiz, Barbie, Wednesday's, JJ Abrams Organizations: Mattel, Wall

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