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The virus has virtually crippled swaths of manufacturing in China, the second-largest economy in the world, and the country is a big buyer of products and services from other countries. U.S. technology companies such as Apple depend on Chinese supplies.
Mattel Inc. has added the Tesla Inc. Cybertruck to the Hot Wheels lineup. It also has working headlights and taillights, a removable plastic body that will show a full interior, and a reusable vinyl sticker that will mimic the broken window that resulted when a Tesla employee hit the “armour glass” with a steel ball. Mattel (MAT) says Tesla (TSLA) sent a file with an image of the crack.
Parents of a certain age will remember all too well the rush to buy the toy of the moment — a Beanie Baby, Buzz Lightyear or Care Bear — in time for Christmas. ’s chief executive Doug McMillon said he struggled to remember the last time there was such a weak selection.
The U.S. stock-market rally is starting to unravel, with a period of historic gains coming to a screeching halt, as fears the coronavirus epidemic may reach America rattles Wall Street.
Mattel Inc. sees opportunity in soft, stuffed “plush” toys, a $2.4 billion category that’s currently occupied by the blockbuster Baby Yoda doll, which was the largest pre-sell in the company’s history. Mattel (MAT) hosted an analyst meeting over the weekend at the 2020 Toy Fair in New York City in which Chief Operating Officer Richard Dickson said the company is now looking for opportunities in its own intellectual property to grow this “whitespace” category.
Hasbro, Inc., a global play and entertainment company, has been recognized by Ethisphere, a global leader in defining and advancing the standards of ethical business practices, as one of the 2020 World’s Most Ethical Companies. Hasbro has been recognized for nine consecutive years and is one of only three honorees in the consumer products industry this year.
Toy makers and buyers gather this week in New York for the industry's major confab. Toy company officials are starting to worry about whether they'll be able to get production going in time to have adequate supplies next holiday season with the industry's major manufacturing center, China, wracked by a virus outbreak that has slowed production and halted shipping. The difficulties posed by supply chain interruptions from the outbreak of the coronavirus, known as COVID-19, have been the talk of the New York Toy Fair, which continued Monday even as fair officials moved forward without many of the Chinese executives who would have attended unable to make the trip because of a U.S. government ban on non-U.S. nationals who have been in China from traveling here.
The growing coronavirus outbreak could take a big bite out of the toy industry this year. But maybe not your wallet.
DEEP DIVE We’re getting close to the end of another earnings season, with 77% of S&P 500 companies reporting their results through Feb. 20. Analysts react not only to actual quarterly results, but to changes in companies’ guidance (if any) for their fiscal years, as well as industry developments, legal or regulatory challenges as well as world events, such as the coronavirus outbreak.
The main U.S. stock indexes fell again in response to a double punch from renewed fear about the coronavirus and discouraging data on the service sector of the economy.
Hasbro, Inc. (NASDAQ:HAS) and The Walt Disney Company (NYSE: DIS) today announced a renewal of Hasbro’s rights under its strategic merchandising relationship for major Disney entertainment properties Marvel and Star Wars.
Shaquille O’Neal is out peddling a new product — and it’s not likely one you’d expect. The NBA Hall of Famer is the new spokesman for Tonka Trucks. That’s right. The toddler toys. On Thursday, Toymaker ...
Basic Fun!, the Florida-based toy and novelties company, today announced it has entered into an agreement with Authentic Brands Group (ABG) on behalf of Shaquille O'Neal for the superstar to be the spokesperson for the all-new Tonka line. The iconic toy truck brand, licensed by global play and entertainment company Hasbro, Inc. (NASDAQ: HAS), has a seventy-year legacy of durable, high-quality products that encourage kids to use their imaginations and ignite new adventures through creative, energetic play. As the official spokesperson for Tonka, Shaquille will be the voice and face of the marketing campaign across TV commercials, Digital Marketing and Social Media, among other activations.
Global play and entertainment company Hasbro, Inc. (NASDAQ: HAS) today announced a partnership with 343 Industries to introduce a range of officially licensed Halo® NERF blasters, including a first look at the NERF Halo MA40 Blaster and NERF Halo MicroShots assortment hitting shelves this fall in the U.S. and U.K.
The company exceeded its initial 2019 cost-cutting target of $650 million by 35% as Chief Executive Officer Ynon Kreiz looks to improve profitability through cutting jobs, closing manufacturing facilities and reducing products manufactured. Mattel now expects $50 million in savings in 2020 from a "capital light program", which includes the closure of four factories in Asia, Mexico and Canada, Kreiz told Reuters. Mattel reported an adjusted profit of 11 cents per share in the fourth quarter ended Dec. 31, racing past expectations of 1 cent, according to IBES data from Refinitiv.
Hasbro, Inc’s (NASDAQ: HAS ) fourth-quarter results were better than feared and the upcoming Toy Fair could provide more clarity around the company’s fiscal 2020 outlook, becoming a catalyst for the stock, ...
Health officials are cautiously optimistic that the slowdown over the last two days in the number of newly confirmed cases of COVID-19, the novel coronavirus that was first identified in late 2019 in Wuhan, China, may indicate that the virus is contained.
Waning fears over the coronavirus outbreak spurred buying on Wall Street Tuesday, sending the S&P 500 and Nasdaq into fresh record territory. But the Dow finished flat. China's top medical advisor said the outbreak may be peaking and WHILE Fed Chair Jerome Powell cited the potential threat from the coronavirus in testimony before Congress, HE gave otherwise fairly upbeat remarks about the U.S. economy. William O'Neil & Co. chief investment strategist, Randy Watts: SOUNDBITE: WILLIAM O'NEIL & CO. CHIEF INVESTMENT STRATEGIST, RANDY WATTS (ENGLISH) SAYING: "We worry that the number of cases is still understated in China. And one of the reasons for that is the incubation period takes so long with this disease. So I think it's a little bit early to say it's peaked." Shares of Sprint catapulted higher. A U.S. judge approved T-Mobile US' purchase of the wireless carrier. T-Mobile shares also rose. Shares of Hasbro fell. Quarterly profit soared on the strength of sales of toys from Disney's film franchises Star Wars and Frozen. But it warned the coronavirus could impact first quarter results. But Under Armour tumbled. The sports apparel maker surprised Wall Street with its forecast calling for a drop in profit this year. It blamed weakness in the North American market and the coronavirus outbreak in China.