Strong International performance, with net sales up 8%, offset by lower sales in North America.
Mattel’s net sales rose 2% to $974.5m in the second quarter. The performance of key brands Barbie, Hot Wheels and Fisher-Price remained strong, with each brand showing a double digit increase in the second quarter, and a high-single digit increase year-to-date.
“Our key power brands—Barbie, Hot Wheels and Fisher-Price—continued to show strength at retail in the second quarter,” commented Margo Georgiadis, CEO of Mattel. “In addition, we are moving quickly to activate the strategy that we outlined in June to future-proof Mattel and deliver enhanced, sustainable growth over the medium-term.”
Worldwide gross sales for Mattel Girls & Boys Brands were $609.9m, an increase of 10%, driven primarily by a 58% increase in gross sales for the Entertainment business, largely as a result of sales of Cars 3 products.
Sales in the company’s Asia Pacific region, of which China is a major part, rose 16% to $122.2 m in the latest quarter. Mattel is renewing its focus on emerging markets such as China where it has tied up with Alibaba Group Holding Ltd and Chinese parenting website Baby Tree to set up educational development and learning centres for children.
Net sales in the North American Region decreased by 3%.