Mattel has seen a “surprise” surge in toy sales, and predicts more growth for the holiday shopping season. The brand reports an unexpected increase of 10% net sales in the third quarter—their largest in a decade. Barbie saw a 29% sales increase, the largest quarterly increase since 2003, and Hot Wheels reported a 6% sales growth. Meanwhile, sales in categories that include action figures, building sets, and games rose 14%, helped by the Baby Yoda plush doll and the Uno card game. Hands-on toys were already trending pre-COVID, and have only become more important as parents try to balance out their children’s screen time and keep them entertained during lockdowns. Demand is expected to increase into the holidays. (CNBC, WSJ)
