Last year, the toy industry was among the few to prosper as the pandemic upended many businesses. For Mattel, it was the second straight year of growth, and Lisa McKnight, global head of Barbie and dolls, attributed the company's success to its legacy brands Barbie, Hot Wheels, and Fisher-Price.
"Not only is Barbie, again, the premier brand in connecting to culture, reflecting what's going on around us, but we made a real effort to shift our strategies. We leaned into social [media] to make sure that we were cultivating conversation right out of the gate and providing not only entertaining content but also important, relevant content to help parents navigate through this incredible time," she told Cheddar.
Growth within the Barbie line, according to McKnight, expanded last year and the company saw incremental sales after the launch of Barbie Extra, which targets an older audience. Perhaps the most stunning part about Barbie's success over the past year is the rate at which another legacy item, the Dreamhouse, flew off of shelves.
"We constantly reinvent it, and last year, we sold one Dreamhouse every minute. It did incredibly well because of its play value and [it] resonates with parents that grew up with the Dreamhouse themselves," she said.
As corporate America engages in conversations surrounding social progress, Mattel has invested in its Play Fair initiative, which aims to snuff out systemic racism. Inclusivity, diversity, and representation continue to be pillars the company says it strives for, whether it be through its toy lines, workplace demographics, or by giving a voice to those who often go unheard.
While Mattel is trending upward in terms of growth and sales, upcoming projects like a Barbie movie starring Margot Robbie, the Barbie digital gaming app, and the enhanced line of body types offered in its dolls will potentially help the brand maintain its standing.
"Obviously we have to go where our consumers are going, and certainly they're consuming digital media like never before. We've had great success with our kid-targeted gaming app, and we're going to be looking at expanding the audience in the future years," McKnight said.
Ford is recalling more than 355,000 of its pickup trucks across the U.S. because of an instrument panel display failure that’s resulted in critical information, like warning lights and vehicle speed, not showing up on the dashboard.
Nvidia reported a 56% increase in second-quarter revenue and a 59% rise in net income compared to a year ago.
The Rev. Al Sharpton is set to lead a protest march on Wall Street to urge corporate America to resist the Trump administration’s campaign to roll back diversity, equity and inclusion initiatives. The New York civil rights leader will join clergy, labor and community leaders Thursday in a demonstration through Manhattan’s Financial District that’s timed with the anniversary of the Civil Rights-era March on Washington in 1963. Sharpton called DEI the “civil rights fight of our generation." He and other Black leaders have called for boycotting American retailers that scaled backed policies and programs aimed at bolstering diversity and reducing discrimination in their ranks.
President Donald Trump's administration last month awarded a $1.2 billion contract to build and operate what's expected to become the nation’s largest immigration detention complex to a tiny Virginia firm with no experience running correction facilities.
Netflix CEO Ted Sarandos claims audiences don't want to watch Netflix movies in theaters, but that seems not to be the case recently.
Chipmaker Nvidia is poised to release a quarterly report that could provide a better sense of whether the stock market has been riding an overhyped artificial intelligence bubble or is being propelled by a technological boom that’s still gathering momentum.
Cracker Barrel said late Tuesday it’s returning to its old logo after critics — including President Donald Trump — protested the company’s plan to modernize.
Low-value imports are losing their duty-free status in the U.S. this week as part of President Donald Trump's agenda for making the nation less dependent on foreign goods. A widely used customs exemption for international shipments worth $800 or less is set to end starting on Friday. Trump already ended the “de minimis” rule for inexpensive items sent from China and Hong Kong, but having to pay import taxes on small parcels from everywhere else likely will be a big change for some small businesses and online shoppers. Purchases that previously entered the U.S. without needing to clear customs will be subject to the origin country’s tariff rate, which can range from 10% to 50%.
Southwest Airlines will soon require plus-size travelers to pay for an extra seat in advance if they can't fit within the armrests of one seat. This change is part of several updates the airline is making. The new rule starts on Jan. 27, the same day Southwest begins assigning seats. Currently, plus-size passengers can pay for an extra seat in advance and later get a refund, or request a free extra seat at the airport. Under the new policy, refunds are still possible but not guaranteed. Southwest said in a statement it is updating policies to prepare for assigned seating next year.
Cracker Barrel is sticking with its new logo. For now. But the chain is also apologizing to fans who were angered when the change was announced last week.
