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Mattel Fills Its Own Toy Cupboard as Retailers Tighten Up

Cons. Discr. - Retailing 386 Earnings 623 U.S. 5046

Toymaker Mattel reported a 13% drop in third quarter revenues on a year earlier, missing analysts’ expectations by 11%. The company cites the bankruptcy filing of Toys’R’Us as one reason, though Panjiva data shows the retailers’ imports continued to grow. Another issue is tighter inventory standards from other retailers. Mattel’s management appears to have been caught off guard here. Its U.S. sales dropped 22% on a year earlier, while imports associated with Mattel climbed 12%. As a consequence Mattel’s own finished goods inventories soared to 55% of quarterly sales from 43% a year earli...

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