Jill Barad
Jill Barad
adjustment further negatively pattern retailers shipping unexpected
As we disclosed in December, unexpected cutbacks by retailers and our further adjustment to a just-in-time shipping pattern negatively impacted our results.
accounts coming good last news products retail sales top
But there was good news coming out of last year. Retail sales of Mattel products at our top U.S accounts were up 12 percent, and yearend retail inventories were down 30 percent, positioning us well for 1999.
counter historical painful situation
These developments were counter to all historical trends, and could not have been foreseen. This situation is very painful and disappointing for us.
believe benefit toys
We believe Toys R Us is doing what is right for its long-term business, which should benefit us in 1999 and beyond.