April 16, 2011 |
Robust sales of dolls helped Mattel Inc. report an 8% sales increase for the first quarter, but higher costs at the world's No. 1 toy maker — including increased legal fees for the prolonged Bratz trial — led to a significant drop in profit. For the three months that ended March 31, sales totaled $951.9 million, compared with $880.1 million for the same quarter a year earlier, the company said Friday. Profit fell 33% to $16.6 million, or 5 cents a share, from $24.8 million, or 7 cents.
April 9, 2011 |
After nearly three months of courtroom testimony, the bitter dispute between toy giant Mattel Inc. and rival MGA Entertainment Inc. over ownership of the sassy Bratz doll line was sent to a jury for deliberations. A verdict could come as soon as next week. The jury heard final arguments in the copyright infringement case in federal court in Santa Ana on Friday in front of a packed courtroom that included the chief executives of both companies. A major point of contention centers on when and where Bratz creator and former Barbie designer Carter Bryant came up with the idea for the wildly popular multi-ethnic dolls known for their oversized heads, pouty lips and risque clothing.
March 8, 2011 |
Barbie's giving up the keys to her dream shop in Shanghai. Two years after opening it to great fanfare, Mattel Inc. has closed the company's sole stand-alone store dedicated to the iconic American doll. Tucked in a downtown district filled with foreign retailers and luxury brands, the six-story, 36,000-square-foot Barbie store was drenched in pink neon light and featured a cosmetics department, a spa and a bar designed by one of Shanghai's premier restaurateurs. A $10,000 Vera Wang wedding dress was on display when the store opened.
February 11, 2011 |
The bitter battle over ownership of the Bratz dolls has grown more acrimonious, with toy giant Mattel Inc. seeking a mistrial following scathing remarks made on the stand by the chief executive of rival MGA Entertainment Inc. In his testimony this week, Isaac Larian, the colorful and outspoken head of MGA, contended that the stress from the years-long dispute with Mattel killed his father, destroyed his family and caused Bratz creator Carter Bryant...
February 10, 2011 |
Ken Carson, always something of a stiff, is loosening up. On the eve of its 50th birthday, the doll that defined boyish American urbanity is working on a comeback, proclaiming on billboards in Los Angeles and New York his love for Barbie. Critics raved about his appearance in "Toy Story 3. " And in a new reality TV show, "Genuine Ken: The Search for the Great American Boyfriend," eight clean-cut real-life contestants vie to be judged worthy of Barbie: a guy with style who knows how to listen, cook, surf and spoil the material girl with displays of affection.
February 3, 2011 |
Mattel Inc., the world's largest toy maker, reported strong fourth-quarter and full-year results Wednesday thanks to healthy sales of core brands and doll lines including Barbie, American Girl and Monster High. For the three months ended Dec. 31, the El Segundo company reported profit of $325.2 million, or 89 cents a share, compared with $328.4 million, or 89 cents, in the same quarter a year earlier. Fourth-quarter sales totaled $2.12 billion, a 9% increase from the year-earlier quarter; sales in the U.S. were up 11%. The fourth quarter is the most important time of the year for toy makers, with many seeing nearly 40% of their sales come during the holiday rush.
January 18, 2011 |
It's the Battle of the Bratz, the sequel. Bitter toy rivals Mattel Inc. and MGA Entertainment Inc. were back in court Tuesday to renew their years-long battle over who owns the billion-dollar Bratz, the sexy-with-an-attitude dolls that debuted a decade ago and deeply cut into Mattel's Barbie empire. During the first trial in 2008, a jury in Riverside found that Bratz inventor and former Barbie designer Carter Bryant was in Mattel's employ when he developed the concept for the immensely popular dolls.
January 12, 2011 |
A former Mattel Inc. employee pleaded guilty to copying confidential company documents and records after he had accepted a job at rival toy maker MGA Entertainment Inc. and was sentenced in Los Angeles County Superior Court on Tuesday. As part of a plea agreement, Jorge Castilla, 34, will be placed on probation for three years, spend 30 days in county jail or serve 120 hours of structured community service, turn over all Mattel property in his possession and be required to pay restitution of $21,284.
January 4, 2011 |
Toy giant Mattel Inc. can't pursue copyright infringement claims against rival MGA Entertainment Inc.'s sexy Bratz dolls other than the original four and two later models, a federal judge ruled. In the prolonged fight over the ownership rights to the billion-dollar Bratz doll empire, U.S. District Judge David O. Carter on Dec. 27 granted a motion by Van Nuys-based MGA to prevent Mattel from seeking infringement damages over subsequent versions of the dolls, with the exception of two: Formal Funk Dana and Ooh La La Cloe.
November 17, 2010 |
Billionaire activist investor Carl Icahn has taken a stake in toy giant Mattel Inc., which announced Monday that its board had approved buying back more stock and increasing its annual dividend. The $500-million buyback is part of the El Segundo company's ongoing share repurchase program, announced in February 2003, under which Mattel has paid about $2.3 billion for about 117 million shares of common stock. Additionally, the company announced that its board had raised the company's annual dividend for 2010 by 11%, to 83 cents per share from 75 cents in 2009.