For the second time in as many weeks, Mattel Inc. (NYSE: MAT) has issued a recall of Chinese-manufactured toys thanks to the use of lead paint. If ingested, lead paint can lead to illness or developmental problems. The latest recall impacts 7.3 million play sets, including Batman action figures and the latest, disturbingly large (at least, since my childhood) incarnation of Polly Pocket dolls. Additionally, 1.5 million die-cast metal cars are going to be pulled off the shelves. According to a statement from Nancy A. Nord, acting chairman of the Consumer Product Safety Commission: "The scope of these recalls is intentionally large to prevent any injuries from occurring."
As BloggingStocks' Brent Archer noted earlier today, it is "hard to imagine this stock going up by too much over the next few months." With 80% of all toys sold worldwide made in China, one has to wonder if this is merely the latest in a line of recalls set to come down the pipeline, but one also has to wonder if further complications are already being factored into the shares.
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