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Mattel surprises with sales rise as Barbie gets makeover

Mattel Inc reported a surprise rise in quarterly net sales, its first increase in over two years, as sales of its Barbie dolls recovered and demand rose for its Hot Wheels toys.

Mattel’s net sales inched up 0.3 percent to USD2 billion in the quarter ended Dec 31. Analysts on average had expected net sales to fall 4.2 percent to USD1.91 billion, according to Thomson Reuters I/B/E/S.

The toymaker’s net income surged 43.6 per cent to USD215.2 million, or 63 cents per share, beating the average analyst estimate of 61 cents per share.