Rick’s daughter had a question about her toys. She wanted to know why some Hot Wheels cars have drivers, and why some don’t. Instead of just making up an answer or saying that he didn’t know, he sent a quick e-mail to Hot Wheels maker Mattel. They sent her back what was probably a form e-mail, but still surprised and delighted Rick. There was another surprise, too. [More]
Mattel’s revenues are down by 19%. Toy sales from summer movies and flagship product Barbie and Hot Wheels are down. However, the company reported today that profits are way up. So what explains the profits? Blame a visit from Price Hike Barbie.