1723 ET - Mattel is moving more of its production out of China, accelerating a yearslong effort to limit exposure to the country. Currently, some 20% of the company's U.S. imports come from China. The company plans to reduce that figure to below 15% by the end of next year, and to less than 10% by the end of 2027, CEO Ynon Kreiz says. The maker of Barbie dolls additionally plans to move production of about 500 items out of China this year, an increase from last year, when it shifted production of about 280 items from the country. Shares fall 2.2% after the company withdraws its 2025 outlook. (connor.hart@wsj.com)
(END) Dow Jones Newswires
May 05, 2025 17:23 ET (21:23 GMT)
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