'Barbie' boom helps Mattel lift annual profit target after bumper sales

Barbie dolls, a brand owned by Mattel, are seen at the FAO Schwarz toy store in Manhattan, New York City, U.S., November 24, 2021. REUTERS/Andrew Kelly/File photosmashed third-quarter results estimates on Wednesday and lifted its annual earnings forecast ahead of the key holiday season, as the toymaker benefited from the box-office success of the "Barbie" movie.

However, its shares, which have risen roughly 13% so far this year, were down about 8% in extended trade. Kreiz told Reuters that Mattel had "greater retail support compared to the prior year, with more shelf space, more representation on major holiday catalogs and more advertising".

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