Strong sales from major brands such as Barbie and Hot Wheels boosted Mattel’s recent results, but the fact that American Girl’s fourth-quarter earnings were up 12% indicates the toy maker is recovering.
For the first time in four years, this doll brand has increased its quarterly sales. In the fourth quarter of 2019, sales of American girls fell 20 percent, downgrading the entire doll category, down 6 percent from the previous year. Sales of dolls in the fourth quarter of this year were up 13 percent from last year.
The growth was even more astonishing, as the brand’s largest stores saw fewer buyers and tourist sales dried up during the pandemic. In the spring, when stores closed for the first time due to coronavirus restrictions, Mattel focused more on its e-commerce business, and the move is paying off