Mattel plans to raise prices in some toys to replace tariff expenses

New York (Ap) – Mattel Inc, Barbie Dolls, hot wheels and others manufacturer Popular ToysMonday said that some products sold in the United States should be increased Tariffs of President Donald Trump.

EL Segundo, located in California, accelerates its plans to remove the production base from China, but increases are necessary, he said. Trump has applied 145% tariffs for most Chinese products.

The company’s executors talked to analysts with the conference call, which is currently 40% of Mattel’s global production. This year, this year, about 500 products this year, compared to 280 products last year, China plans to transfer 500 products from producers to other countries.

Some said that Mattel will attract factories in multiple countries for many wanted toys. To prevent possible shortcomings, the company said he focused on receiving the product into the stores.

The company said that although the price is an increase, more than 40% of their toys will earn customers 20 or less.

“The diversified and flexible supply chain of global trade organizations are clearly advantages in the period of this uncertainty,” he said, CEO and chairman Ynon Kreiz analysts.

In reference to the continuous uncertainty involving the President’s trade policy Mattel Withdrew the annual earnings forecast on Monday. The company said that consumer expenses and the company’s US sales of US is without information for the rest of the year.

Mattel said the expected first quarter and a wider casualties. Mattel, for the quarter ended March 31, said sales rose to $ 827 million to $ 827 million, he said.

The company’s loss was expanded to $ 40.3 million in a quarter or up to 12 cents per share. This is compared to 8 cents in a period of $ 28.3 million or in a period, 8 cents or 8 cents in one period.

Analysts, according to the faceled information, the first quarter is expected to lose $ 786.1 million in sales.

Mattel’s shares were less than 1% after markets.