Nowadays many kids have got themselves busy into playing digital games because playing video games is now has become a necessary thing for the young generation. There were old days when kids used to buy tons of toys from stores to play with them, but If we look into previous years data, then it shows that nothing’s like that is happening. However, recent earnings reports of one of the largest toy maker Mattel says different things about the toys industry. Mattel shocked everyone when the company recorded a massive amount of profits by selling its top branded toy Barbie. Barbie successfully generated a sale of more than $341 million in 2018’s last quarter. The overall yearly sale of Barbie doll amounted to more than 1 billion dollars which are a good indication for the toys industry because from last few years many big companies haven’t recorded a good amount of profits.
There are many companies in the toys industry which are getting out of businesses. Recently Toys R US filed for bankruptcy when the company did not succeed to generate the right amount of money. On the other hand, Mattel is that company which is making successful products from the last few years, but it’s still not making a massive amount of profits because of its improper management. Mattel even after giving some top-selling brands like Barbie is still recording losses because of its flop toy products like Thomas and Friends, American Girls. Mattel’s revenue has been fallen from $1.7 billion in 2017 to $1.6 billion in 2018 quarter, but still, the company’s revenue has beaten investors expectations. Mattel’s CEO Ynon Kreiz is expecting a good amount of success in this new year because the company is ready to launch some new products into the market.
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Jean’s experience in the business industry has helped get the knack of how things happen in the world of business, but what keeps her going is the enthusiasm itself. She would not spend a day without taking a look at the business page of popular reporting across the globe.