No sub-prime meltdown for Barbie and her dream house:
Toy maker Mattel says strong sales worldwide of its iconic Barbie brand and “Cars 2″ toys helped third-quarter net income rise nearly 6 percent.
The Barbie doll has been a strong seller for the largest U.S. toy company for the past two years. Barbie sales rose 17 percent worldwide.
The company says net income rose to $300.8 million, or 86 cents per share. That compares with $283.3 million, or 77 cents per share last year. Earnings matched analyst expectations, according to a FactSet poll.
Revenue rose 9 percent to nearly $2 billion. Analysts expected $1.97 billion.
This is no shocker for me as my four-year-old’s Christmas and birthday lists are filled with Barbie items of every imaginable stripe. Hair salon, airplane, etc.