On the Call: Mattel COO Bryan Stockton
By The Associated Press
Mattel Inc., the largest U.S. toy maker, reported Friday that its first-quarter net income fell 33 percent as higher costs offset an 8 percent increase in revenue, but the results beat analysts' expectations and Mattel's shares rose.
On a call with analysts, CEO Bob Eckert introduced COO Bryan Stockton, who was named to that post in January and replaced Neil Friedman. Friedman, the former president of Mattel Brands, left in March to become president of the U.S. business of privately held Toys R Us.
Stockton outlined Mattel's plans for its popular Monster High dolls, marketed as the offspring of famous monsters.
QUESTION: How do you plan to expand "Monster High"?
RESPONSE: For 2011, the franchise continues to expand with the introduction of four new characters, two new books and an hour-long TV special.
We have also expanded our partnership with (teen mall chains) Claire's and Justice; our Macy's T-shirt program, launched in early January, delivered strong sell-through; and, next month, check out our Monster High program at Walmart, which includes the dolls, books and T-shirts. Brand offerings will be further expanded to include apparel, accessories, cosmetics, and activities for back to school.
And we launched the brand in more than 15 new markets this year including France, Australia, Portugal, Turkey and Poland, to name a few.