Mattel, the US toymaker behind Barbie, Hot Wheels and Fisher Price, saw its shares jump more than 20% last week on better than expected fourth quarter results.
The closure of Toys ‘R’ Us, which was a key distributor for toymakers such as Mattel, was expected by many analysts to hit sales.
While Mattel acknowledged that the store’s liquidation has an 8% negative impact on gross sales in the fourth quarter, it said this was more than offset by the performance of its “Power Brands”.
Barbie saw gross sales increase by 12% in the quarter, it’s highest level for five year. Hot Wheels, meanwhile, saw gross sales increase 9% by its 50th anniversary, to reach the highest level in its history.