“Guidance includes the anticipated impact of new US tariffs… announced on February 1st, and mitigating actions we plan to take, including leveraging the strength of our supply chain, and potential pricing,” Mattel said in its quarterly report.
The toy industry has been facing slower sales in 2024, as a higher cost of living meant shoppers had less cash to spend on toys.
Despite this, Mattel’s shares jumped by 10% in extended trading in New York, after the company forecast better profits for next year than had been expected by Wall Street analysts.
Over the weekend the head of International at the US Chamber of Commerce, John Murphy, said Trump’s tariff plan will only “raise prices for American families and upend supply chains”.
This week, the US president paused plans to impose a 25% tariff on imports from Canada and Mexico but went ahead with levies on Chinese-made goods.
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