DIRS.INFO The most relevant business & tech news

The Gap logo is seen on the front of the company's store in Paris, France, July 1, 2021. If current gains hold, shares will have nearly doubled since late July after the former Mattel (MAT.O) executive was appointed to revive the once sought-after brand. Gap's third-quarter earnings release Thursday showed significant inventory destocking, even as its holiday-season forecast disappointed. However, Gap joined other retailers in sounding a cautious note on spending, heading into the all-important shopping season. Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Shinjini Ganguli and Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Persons: Sarah Meyssonnier, Richard Dickson, Dickson, David Swartz, Swartz, Katrina O'Connell, Gap, Ananya Mariam Rajesh, Shinjini Ganguli Organizations: REUTERS, Mattel, Gap's Old Navy, Morningstar, Navy, Walmart, Banana Republic, Thomson Locations: Paris, France, Bengaluru

☆ Heart-shaped beds and champagne hot tubs: Inside America’s adults-only hotels
▼ + stars: | 2023-11-17 | by ( Francesca Street | ) edition.cnn.com time to read: +12 min

CNN —Heart-shaped hot tubs surrounded by rose petals, circular beds with ceilings that replicate a starry night sky and jaw-dropping, seven-foot-tall champagne-glass whirlpools for two. Margaret and Corey Bienert/Courtesy Artisan BooksThe Cove Pocono Resorts premiered its heart-shaped hot tub in 1963. For Margaret and Corey, these images of the champagne tub became the thesis statement of their hotel project. Not all the hotels Margaret and Corey frequent are 20th century relics. Margaret and Corey Bienert/Courtesy Artisan BooksWhile most of the hotels Margaret and Corey highlight are in the US, the book also spotlights a few elsewhere in the world.

Persons: Margaret, Corey Bienert, –, ” Margaret, Corey, Morris Wilkins, Wilkins, upping, they’re, Don, aren’t, Toledo , Iowa –, Trixie Mattel, ”, “, Don Q, Margaret Bienert, they’ve, honeymooned, we’ve, “ It’s, it’s, “ There’s, there’s, hadn’t, “ I’ve, Diego Calvo Organizations: CNN, Resorts, CNN Travel, Artisan Books, Miami Princess Hotel, Pocono Resorts, “ Owners, Mon Chalet Locations: Pennsylvania, Pocono, Miami , Florida, Wisconsin, South Amboy New Jersey, Idaho and Utah, Toledo , Iowa, Galena , Illinois, Wildwood, Florence , Kentucky, swingers, Colorado, Idaho, Ibiza, Spain, Spanish

☆ Gap shares soar on Old Navy brand renewal, controlled inventory
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +2 min

Comparable sales at Old Navy rose 1% in the third quarter, the first increase in 10 quarters. "Old Navy gained market share, an encouraging early proof point that work to improve both product assortment and brand messaging" were driving results, Gap Chief Financial Officer Katrina O'Connell said on Thursday following the earnings. Gap's struggles with outdated inventory at its namesake brand and Old Navy had pushed customers to look for newer and fresher styles at rivals like Shein and Amazon.com (AMZN.O). Jefferies analysts said new CEO Richard Dickson's prior experience in reinvigorating brands like Barbie at Mattel (MAT.O) could bring a lift to the Old Navy banner. The apparel maker's executives also alluded to a "longer recovery" time for Banana Republic and Athleta, which has seen "product misfires" and weak "retail execution".

Persons: Sarah Meyssonnier, Katrina O'Connell, Richard Dickson's, Barbie, Ananya Mariam Rajesh, Sriraj Organizations: REUTERS, Old Navy, Walmart, Advisory, Navy, Jefferies, Mattel, Banana Republic, Thomson Locations: Paris, France, trendier, encouragingly, Bengaluru

☆ Gap's closet cleanup begins to pay off
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid Acquire Licensing RightsTORONTO, Nov 17 (Reuters Breakingviews) - Gap’s (GPS.N) new CEO is embarking on a closet cleanup. Shares in the U.S. apparel company leapt over 30% on Friday morning, a day after it unveiled third-quarter results. That reaction looks overdone, considering how overall net sales of $3.8 billion are still down 7% compared to last year, and earnings fell year-on-year. Same-store sales at sub-brand Old Navy for the quarter were up 1% year-on-year, the first quarterly increase in over two years. The company might even use that tailwind to revive its scrapped plans to separate Old Navy into a stand-alone company.

Persons: Brendan McDermid, That’s, Richard Dickson, Barbie, Sharon Lam, John Foley, Aditya Sriwatsav Organizations: REUTERS, Rights TORONTO, Reuters, Navy, Mattel, Banana Republic, X, Walmart, Thomson Locations: midtown Manhattan, New York, U.S, China

☆ Gap's new CEO thinks he can make Banana Republic a 'quiet luxury' destination
▼ + stars: | 2023-11-17 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +3 min

He wants to turn Banana Republic into a quiet luxury brand. AdvertisementGap's new CEO wants to transform its Banana Republic brand into the next destination for quiet luxury. Dickson's plan to reverse this downward trend includes turning Banana Republic into a quiet luxury brand by elevating its aesthetic and product offerings. "We think Banana Republic has an opportunity to thrive in the quiet luxury space," Dickson said. Quiet luxury clothing and accessories are devoid of logos or prominent branding and typically come in neutral or muted colors.

Persons: Richard Dickson, —, Dickson, Loro Piana Organizations: Service, Republic, Mattel, Navy, Inc, Banana Republic Locations: Banana, Banana Republic

☆ Mattel, hot off 'Barbie' success, hires ex-Fox, Sony exec to run TV studio
▼ + stars: | 2023-11-16 | by ( Drew Richardson | ) www.cnbc.com time to read: +2 min

Mattel hopes a new hire will help it expand its content slate, following the blowout box office success of "Barbie." The toy maker, home to Hot Wheels and American Girl, announced Thursday that it has hired former Fox and Sony exec Michelle Mendelovitz as head of Mattel Television Studios. "I look forward to the impact Michelle and Mattel Television Studios will have on expanding the content slate to the delight of our fans around the globe." Mendelovitz previously held senior roles at Disney 20th Television Studios, Apple TV+, Sony Pictures Television and CBS Television Network. "Hot Wheels Let's Race" and "Masters of the Universe: Revolution" are a few of the new releases planned for the upcoming year.

Persons: Mattel, Barbie, Michelle Mendelovitz, Josh Silverman, Michelle, Mendelovitz, Thomas, It's, Ynon Kreiz, Barney, Max Organizations: Girl, Fox, Sony, Mattel Television Studios, Mattel, Disney 20th Television Studios, Apple, Sony Pictures Television, CBS Television Network, Thomas &, CNBC, Cartoon Network

☆ Old Navy gives Gap a little something to cheer about amid sales slump
▼ + stars: | 2023-11-16 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +3 min

But signs of a turnaround for its Old Navy division offered at least something to cheer about. Overall revenue in the quarter for Gap Inc. fell 7% in the period over last year to $3.8 billion. Store sales across its brands in the quarter dropped 6%, while companywide online sales slumped 8% over the same time last year. Looking at its individual brands, sales at Gap’s namesake stores tumbled 15% versus a year ago. Excluding the negative impact from the sale of Gap China and the shutdown of Yeezy Gap, net sales for Gap were down 6% versus last year.

Persons: retailer’s, Richard Dickson, Dickson, Mattel, Barbie, “ Barbie ”, ”, Neil Saunders Organizations: New, New York CNN, Old Navy, Gap Inc, Refinitiv, Old, Industry, Warner Bros . Pictures, Inc, GlobalData Locations: New York, China

☆ Gap shares soar on sales, earnings beat despite muted holiday forecast against uncertain backdrop
▼ + stars: | 2023-11-16 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +5 min

Gap hasn't managed to reverse its ongoing revenue slump, but its same-store sales were far better than expected. Gap saw modest improvements at Old Navy and its eponymous banner. The brand saw strength in women's and kids, and an uptick in activewear. The brand is still reeling from the shutdown of Yeezy Gap and saw comparable sales decline 1%. Banana Republic: Sales at Banana, known for its workwear and going out pieces, fell 11% compared to last year to $460 million.

Persons: Richard Dickson, Dickson, I'm, we've, Katrina O'Connell Organizations: LSEG, Old Navy, Banana Republic, Mattel, CNBC, Navy Locations: Banana, activewear, Gap

[1/4] Consumers struggle to enter a store to buy shoes in a store at a shopping center during Black Friday sales, in Caracas, Venezuela November 25, 2022. WILL SHOPPERS FIND BLACK FRIDAY DEALS THIS YEAR? HOW MUCH ARE SHOPPERS EXPECTED TO SPEND? Spending online during Black Friday is expected to rise 5.7% to roughly $9.6 billion, according to Adobe Analytics. Macy's CEO Jeff Gennette on Thursday said the competitive landscape has shifted to Black Friday deals prior to Black Friday.

Persons: Leonardo Fernandez Viloria, Marcus Collins, Collins, Dana Telsey, Jane Hali, Max, Lancome mascaras, Bobbi Brown concealers, Jeff Gennette, Mattel, Steve Totzke, Juveria Tabassum, Savyata Mishra, Richa Naidu, Helen Reid, Josie Kao Organizations: Black, REUTERS, Retailers, Department, Ross School of Business, University of Michigan, Labor, National Retail Federation, Telsey Advisory, Sensormatic Solutions, U.S, Adobe Analytics, Dollar, Walmart, Associates, Nordstrom, Adobe, Consumers, Deloitte, Electronics, Mastercard, Reuters, Thomson Locations: Caracas, Venezuela, U.S, Europe, Philadelphia, Panama, United States, United Kingdom, China, Bengaluru, London

The holiday season, which begins with Black Friday at the end of November and lasts roughly until the end of December, is expected to be especially tough for retailers selling discretionary items, executives say. "We are seeing some early Black Friday sales start just now," Barbie maker Mattel's (MAT.O) president and chief commercial officer, Steve Totzke, told Reuters on Monday. "The market for toys has been declining for the whole year," said Florian Sieber, CEO of German toy maker Simba. "We are expecting a good holiday season for Mattel," Totzke said. "We expect to continue to gain share throughout the holiday season."

Persons: Peter Nicholls, Larian, Santa Claus, Barbie, Loo, Isaac Larian, Toymakers, Nic Aldridge, Aldridge, Mattel's, Steve Totzke, Florian Sieber, Simba, Sieber, Totzke, Frédérique Tutt, Jerry Storch, Richa Naidu, Matt Scuffham Organizations: REUTERS, Hasbro, Mattel, Consumers, Euromonitor, MGA Entertainment, Toymakers Hasbro, Reuters, Bandai, P, Global, Storch Advisors, Hudson's, Thomson Locations: London, Britain, Europe, Santa, United States, Loo Wee, U.S

"We are seeing some early Black Friday sales start just now," Barbie maker Mattel's (MAT.O) president and chief commercial officer, Steve Totzke, told Reuters on Monday. "The market for toys has been declining for the whole year," said Florian Sieber, CEO of German toy maker Simba. "We are expecting a good holiday season for Mattel," Totzke said. "We expect to continue to gain share throughout the holiday season." "But it's a reality that there won't be as many toys sold this year as last year."

☆ Extended reality is helping solve some of marketing's biggest challenges by creating memorable, immersive customer experiences
▼ + stars: | 2023-11-09 | by ( Nicholas Fearn | ) www.businessinsider.com time to read: +8 min

A range of XR tech is available for marketingMarketers have a range of XR technologies to choose from when developing immersive marketing campaigns. Apple is one company that's "pushing the boundaries" of XR-based marketing, Van Belleghem said. XR to the rescueXR technology is also helping marketers solve many of their biggest day-to-day challenges. XR technology also makes scalability easier, Van Belleghem said, because it provides a "scale that real-life events simply cannot match." Getting XR marketing campaigns rightAn essential first step in successful XR-based marketing is to understand the target audience and ensure campaigns provide value to customers' lives, said Rogers.

Persons: —, Ludenso, Eirik G, Sol Rogers, Rogers, Steven Van Belleghem — who's, Steven Van Belleghem, Simon Windsor, Van Belleghem, Apple's, Windsor, Arif Miah, Mattel's, Barbie Organizations: XR, Service, Discovery, Ludenso, Puma, Disney, Microsoft, Windsor, Mud

☆ 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

☆ 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

☆ 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

☆ 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

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

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

☆ 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

☆ 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

☆ 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

☆ 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

☆ 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

Search resuls for: "mattel"

25 mentions found