Mattel said Friday that its fourth-quarter net income slid 17 percent on a litigation charge, while revenue rose 5 percent. Here CFO Kevin Farr discusses price increases the company is taking in 2013.
QUESTION: What kind of price increases are you implementing this year?
RESPONSE: "When we look at 2013 we continue to operate in an inflationary environment with a lot of volatility as the economy slowly recovers and possibly will continue to rise. ... We've implemented low single-digit global price increase effective January 1, 2013. If you look at 2012, we did a mid-single-digit price increase."