A difficult yr at retail continues for the toy business however Mattel is preventing again whereas making strides in strengthening its enterprise.
The home that Barbie and Hot Wheels constructed reported international web gross sales of $1.08 billion within the second quarter, a 1% slide versus the identical interval final yr. Gross sales in North America fell 3%.
This was a very good quarter for Mattel, the place we achieved vital gross margin growth, and progress in Adjusted EBITDA and Adjusted EPS. We additional strengthened our stability sheet and greater than doubled free money move within the trailing twelve-month interval. Mattel is effectively positioned for the second half, with new product innovation and elevated retail assist. We’re in a robust monetary place to execute our technique to develop our IP-driven toy enterprise and develop our leisure providing.”
Reported working revenue was $83 million, an enchancment of $20 million. Adjusted working revenue was $96 million, an enchancment of $21 million. Reported earnings per share have been $0.17, an enchancment of $0.09 per share, and adjusted earnings per share have been $0.19, an enchancment of $0.09 per share.
Mattel attributes its 3% gross sales dip in North America to declines in Toddler, Toddler, and Preschool (primarily Preschool Leisure, Child Gear & Energy Wheels, partially offset by progress in Fisher-Worth), Dolls (primarily Barbie), and Automobiles (primarily Matchbox and Scorching Wheels), partly offset by progress in Motion Figures, Constructing Units, Video games, and Different (primarily Video games).
Within the worldwide phase, progress was seen in Automobiles (primarily Scorching Wheels) and Toddler, Toddler, and Preschool (primarily Fisher-Worth).
The corporate says that worldwide gross billings in Dolls fell 6% versus Q2 final yr primarily resulting from declines in Barbie and Disney Princess and Frozen. Toddler, Toddler, and Preschool dipped 4% resulting from declines in Preschool Leisure, Child Gear & Energy Wheels, partially offset by progress in Fisher-Worth.
In the meantime, Scorching Wheels fueled a 2% spike in gross billings for Automobiles whereas Video games drove a 1% achieve in Motion Figures, Constructing Units, Video games, and Different.
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