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Mattel expects 'strong' holiday season despite supply issues

2021-10-21T21:53:03.204Z

Toymaker Mattel raised its full-year sales forecast on Thursday and expects a "strong" holiday season on ...



The toy maker Mattel on Thursday raised its sales forecasts for the whole year and expects a

"solid" holiday

season, the group ensuring that it has managed rather well so far the problems of chains of supply.

Read alsoMattel launches a Barbie in the likeness of the co-designer of the AstraZeneca vaccine against the Covid-19

Mattel anticipates a turnover up 15% for the whole year, against 12% to 14% previously, details a press release.

In the third quarter,

"we successfully managed the ongoing disruptions in the global supply chain, grew our sales and, according to (the firm) NPD, continued to gain market share,"

said CEO Ynon Kreiz. , in the press release.

“We hope to continue to grow by the end of the year and have a strong holiday season

,

Christmas being a pivotal time for toy dealers, he added.

Increased turnover

The group's turnover rose 8% between July and September to reach $ 1.76 billion. Revenue from dolls, including Barbies, increased 4% and revenue from Hot Wheels or Cars grew 6%. Revenues from action figures, construction games and companies like the Uno jumped 26% while those generated by toys for young children, including the Fisher-Price and Thomas & Friends brands, stagnated. The group posted a net profit of 813 million dollars over the period, mainly fueled by an accounting charge of 510 million.

Reported per share and excluding exceptional items, the benchmark on Wall Street, profit rose to 84 cents, more than the 72 cents expected by analysts.

Mattel's gross margin, on the other hand, declined slightly, mainly due to higher raw material prices which were only partially offset by higher prices.

Its stock took more than 5% in electronic exchanges following the close of the New York Stock Exchange.

Source: lefigaro

All business articles on 2021-10-21

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