Mattel Soars After Parents Buy Up Its Toys to Placate Bored Kids
- Maker of Barbie dolls is working to avoid product shortages
- Classic toys are thriving in absence of new movie franchises
Photographer: Tiffany Hagler-Geard/Bloomberg
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Mattel Inc. rose as much as 13% Friday after third-quarter results shattered expectations, lifted by consumers snapping up Barbie dolls and Hot Wheels toys during the pandemic.
The company’s doll sales surged 22% compared with a year earlier, as families looked for cheap ways to entertain lockdown-bored children.