The Latest Breaking News from Ynon Kreiz

Toy industry giant Mattel Inc. is laying off employees, including 93 workers at the company's El Segundo, California, headquarters, according to a notice filed with the state Employment Development Department.

"We expect headwinds that may impact consumer spending and affect consumer demand this year," said CEO Ynon Kreiz.

Mattel Inc (NASDAQ:MAT) reported first-quarter FY22 sales growth of 19% year-on-year, to $1.04 billion, beating the consensus of $917.95 million. North America segment sales rose 26% Y/Y, and International sales grew 16%. Worldwide Gross Billings for Dolls increased 4% Y/Y, Infant, Toddler, and Preschool rose 12%, Vehicles jumped 31%, and Action Figures, Building…

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