Mattel Is Closing Company-Owned Factories
Mattel (NASDAQ: MAT), maker of iconic toys like Barbie, Hot Wheels, and Fisher-Price, is closing three factories, according to The Wall Street Journal. Two of the factories, in China and Indonesia, have already been closed, and another one, in Montreal, is slated for closure later this year.
According to the Journal report, Mattel owns 13 factories that make its products, unlike its competitors like Hasbro, which outsource their toy production. Mattel's sales have been weak, and the company has been looking for ways to improve efficiencies and slash expenses.
Image source: Mattel.
Source Fool.com