Monday, 20 April 2015

Frozen Out

Mattel has reported a big jump in losses as its core brand continues to face stiff competition from merchandise linked to Disney's highest-grossing animated movie, Frozen. The toy firm said Barbie sales plunged 14% in its first quarter to 31 March, with Mattel's loss before tax growing to $73.2m (£49.1m) from $9.4m (£6.3m) in the same period last year. The doll, whose history dates back to 1959, and its accessories have faced numerous challenges to its popularity from cautious consumer spending worldwide to the growth of device gaming and other rival products including Lego.