Mattel says it has to raise prices in the run-up to Christmas as the industry giant faces higher costs.
Toy maker
"We will be looking at increasing prices in the second half of [the] year," Mattel's chief executive Ynon Kreiz told the BBC. Mr Kreiz also said his company was not alone in having to put up its prices: "We're not the only ones who did it, in our industry everyone did - and no-one is surprised by [price increases]."Net sales for the period jumped by 40% compared to the same time last year to $1.03bn.Companies in many industries around the world have had their operations disrupted by delays to shipping and problems getting goods through ports due to the pandemic.
"We were able to leverage our size and partnerships that we have with our vendors and retail partners and mitigate some of these issues, so we did not have any impact on our business in the second quarter," he said.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Logitech sales rise 66per cent on higher demand amid work-from-home activityComputer peripherals maker Logitech said on Tuesday it was seeing no let-up in demand from stay-at-home workers, after reporting higher operating ...
Read more »
LG Display's Q2 profit beats estimates as panel prices rise; shares upSouth Korea's LG Display Co Ltd on Wednesday posted a better-than-expected second-quarter profit as pandemic-led demand for TVs and laptops drove ...
Read more »
Japan's service prices rise for 4th straight month as demand reboundsJapan saw the prices companies charge each other for services rise for the fourth straight month in June, data showed on Tuesday, a sign the ...
Read more »
Consumer price index of vegetables rose by less than 1% in June: MTISINGAPORE: The consumer price index (CPI) of leafy and fruit vegetables increased by less than 1 per cent in June, said Minister for Trade and ...
Read more »