Latest news with #TheToyBook
Yahoo
2 days ago
- Business
- Yahoo
Thanks to tariffs, toys could be scarce for Christmas
Tariffs are already affecting the toy industry, with deadlines for Christmas deliveries closing for toy companies scrambling to get in orders during the pause on higher tariffs. In an interview with ABC News June 1, James Zahn, editor-in-chief of The Toy Book, a magazine reporting on the toy industry, said the morning of the tariff pause, toy industry folks str trying to start up their manufacturing lines or racing for container space. "The biggest thing right now is getting the product into the U.S. in a timely manner, because we are already racing against the clock," Zahn said. The toy industry operates on strict dates and deadlines and all the uncertainty has created a logistical nightmare, said reporter Melanie Hastings in that ABC report. "In March, the tariffs went to 245%, and now is down to 30%, but industry leaders are saying that is still too high," Hastings reported. Claire Huber, spokesperson for the U.S. International Trade Commission said an analysis of 2024 data showed 78.3% of toy imports and 85% of Christmas-related imports, such as lights, trees and decorations, are manufactured in China. Little Buster Toys, in Pryor, manufacture their products overseas and have been impacted by the tariffs. Lisa Rickman bought the company about eight years ago from the original manufacturer. That manufacturer, who started up the company 15 years before Rickman bought it, produced the products in the U.S. for about a year before sending it overseas due to cost and quality issues. "We manufacture overseas and we are impacted by the tariffs as well," Rickman said. "We were impacted by the first at 20% tariff, and we are now hit by 30% tariff, and we cancelled orders or had orders on hold when it was [over 100]%." Even though it is a small, family owned company, Little Buster Toys fall within that tariff zone. "Even if they are companies manufacturing in the U.S., very few will not be burdened by tariffs on parts and materials used for production and assembly lines," Rickman said. In Tahlequah, there are few options for toys except Walmart and Walgreens. Neither company had responded by press time to queries on the shipping situation with toys for Christmas. A couple of local gift shops offer a small selection of toys. At The Mustard Seed, one section offers toys for small children. One line of stuff toys, Mary Meyer, has tags stating the line started being manufactured in the hills of Vermont in 1933. According to a spokesperson for the company, that hasn't been true for a long time. At the John Hair Cultural Center and Keetoowah Museum, Raelie Grayson talked about some options for products locally made to bridge the problem parents might face at Christmas. A game created by a Keetoowah artist, John Tanner, is one possibility. "It's a ring toss game and you use round rubbers rings like those used in canning, and each hook is labeled by the phonetic spelling of a Cherokee word," Grayson said. A corn doll husk kit is a fun activity, and there are small stuffed animals which corresponds to characters in a book of Keetoowah Cherokee stories. The book is "Keetoowah Animal Storybook," by Kyndal Aimerson and illustrated by Teala Wildcat-Johnson. The stuffed toys come from Stuffed Safari, a company in Springfield, Illinois. "We pull from different manufacturers: Aurora World Plushies and Toys, Wild Republic, Hansa Toys, Solknais Stage Puppets, Gund, Warmies, Wildlife Artists Stuffed Animals, Nat and Jules - Demdaco," said a spokesman for Stuffed Safari. "They all produce their toys overseas." The spokesperson was unable to speak to the issues of tariffs and the effects on the supply and cost of their products. Handmade fabric dolls by Donna Budds are available at the museum gift shop, too, and small blowguns about 2 feet long made from river cane. "We have a blowgun model which can actually be used as a blowgun," Grayson said. "Back in the traditional days pre-Colonial times, this would be considered a boy's first toy and to teach them how to hunt with it," Grayson said. "As he grew older the blowgun would gradually get bigger." The Cherokee Nation Gift Shop has several options for cultural toys. Dianne Pruitt said Tommy Wildcat's flutes are good gifts for kids and adults learning how to play. This shop also sells blowguns, both small and much longer, made by Steve Daugherty and Lucas Wildcat. The shop features a large assortment of cultural books, all published by U.S. publishing companies like Oklahoma University Press and University of New Mexico Press. The OUP in Norman prints its books in the U.S. "We do not do our own printing; few, if any, book publishers do. We work with a variety of U.S. printers for most of our paperbacks and hardcovers," said Stephen Hull, director of UNMP. "For certain color-critical art books, we work with a broker to find a printer in Asia." He said the quality is on par with domestic, but costs less, and tends to outweigh the increased time in transit. "But for all but a few books a year, we print domestically," Hull said. One book at the CN gift shop is "Rabbit Plants the Forest," by Deborah L. Duvall and illustrated by the late Murv Jacob. "'Rabbit Plants the Forest' is an adventure story based on characters from Cherokee tradition, including Ji-Stu – Rabbit, and his friends Otter, Sa-lo-li – Squirrel, and the mysterious Wampus Cat," states the Amazon description of the book. Other items include coloring books with Native themes, and dolls made from pantyhose by Margaret Flanagan. A selection of blocks featuring the letters of the Cherokee syllabary, handmade by "Uncle Goose," are part of the options for parents in this gift shop.
Yahoo
05-02-2025
- Business
- Yahoo
Mattel forecasts annual profit above estimates, signals price hikes on toys
By Savyata Mishra (Reuters) -Toymaker Mattel on Tuesday forecast full-year profit above Wall Street expectations as the Barbie maker warned of potential price hikes owing to recent tariffs by President Donald Trump, with shares surging nearly 8% after the bell. The move comes as Trump imposed sweeping tariffs on China, Mexico and Canada on Saturday, which Mattel aims to mitigate through supply chain optimization and potential price increases on its toys. When it comes to pricing, the company will work with its retail partners to find the right balance of quality and value at affordable price points, CEO Ynon Kreiz said. Levies on Mexico and Canada were paused for a month while tariffs were being imposed on China, which retaliated with levies of its own. Currently, less than 40% of Mattel's global product is manufactured in China, compared to an industry average of about 80%. The toy industry has witnessed muted demand through 2024 as cash-strapped customers pulled back on discretionary purchases, while higher product prices further discouraged spending. However, Mattel beat fourth-quarter estimates owing to stable demand for its Uno cards and Hot Wheels vehicles as well as cost-saving efforts. "I believe ... (there is) strength in Mattel's 2025 product lineup as higher prices could stifle some demand — families are already maxed out — but great products can offset those declines," said James Zahn, editor in chief at The Toy Book magazine. Mattel undertook stringent cost-control measures to protect its margins from sluggish demand last year, and on Tuesday said it plans to repurchase $600 million of shares through 2025. It expects 2025 adjusted profit per share in the range of $1.66 to $1.72, above analysts' average estimate of $1.58, according to data compiled by LSEG. Net sales growth is forecast to grow in the range of 2% to 3%, slightly below analysts' expectations of a 2.7% rise to $5.51 billion. The company's net sales rose 2% to $1.65 billion. Analysts on average had expected flat sales of $1.63 billion. It earned 35 cents per share on an adjusted basis, beating estimates of 20 cents. Sign in to access your portfolio
