Mattel Shares Drop as DC Comics Signs Toy Deal With Spin Master
Source: Warner Bros.
This article is for subscribers only.
Mattel Inc. extended its longest streak of daily declines since 2015 after Goldman Sachs analysts cut estimates following the toymaker’s loss of licensing for certain DC Comics products, including boys’ action toys.
Spin Master Corp. will be the new licensee for DC in the boy’s action category, remote control and robotic vehicles, water toys and games and puzzles, displacing Mattel. The three-year global agreement with Warner Bros. begins in Spring of 2020. Mattel will be keeping some of its licensing rights, including for preschool and girls’ toys, Goldman analyst Michael Ng said in a note to clients.