Toy Prices Rise as China Wages Increase
Posted: Wed May 25, 2011 12:18 pmhttp://www.bloomberg.com/news/2011-05-2 ... rease.html
'Mattel Inc. (MAT), which makes Barbie dolls, and Hasbro Inc. (HAS), owner of the Transformers brand, raised prices earlier this year as Chinese factories pass on higher costs for raw materials and labor.'
'Hasbro raised prices in February by 6 percent to 7 percent, Chief Operating Officer David Hargreaves said April 21. The Pawtucket, Rhode Island-based company makes toys under brands including Transformers, Spider-Man, “Sesame Street” and “High School Musical.”
“We haven’t had pushback from the retailers,” Hargreaves said. “They understand that commodity costs are going up. They accept that the prices need to go up a bit to cover these costs.”'
'Mattel Inc. (MAT), which makes Barbie dolls, and Hasbro Inc. (HAS), owner of the Transformers brand, raised prices earlier this year as Chinese factories pass on higher costs for raw materials and labor.'
'Hasbro raised prices in February by 6 percent to 7 percent, Chief Operating Officer David Hargreaves said April 21. The Pawtucket, Rhode Island-based company makes toys under brands including Transformers, Spider-Man, “Sesame Street” and “High School Musical.”
“We haven’t had pushback from the retailers,” Hargreaves said. “They understand that commodity costs are going up. They accept that the prices need to go up a bit to cover these costs.”'