Mattel Recall to Cost Company $30 Million

Mattel apologized last week to customers affected by a recall of nearly a million toys from its Fisher-Price division and said the move will cut pretax operating income at the world’s largest toymaker by $30 million.

“We apologize to everyone affected by this recall, especially those who bought the toys in question,” Robert A. Eckert, Mattel Inc.’s chairman and CEO, said in a statement.

Included in the recall were 83 types of toys based on the popular characters Big Bird, Elmo, and Dora, among others.

Mattel also said it was not aware of any additional issues related to lead in paints with its products, but cannot guarantee that more issues will not be identified.

The company said it was reviewing the procedures of all of its manufacturing partners in China.

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