Home/Media & PR/Mattel enjoys sales spike in Q217 financial results
Mattel enjoys sales spike in Q217 financial results
Robert Hutchins 28th July 2017	Media & PR 404 Views
Mattel has enjoyed a spike in net sales in its second quarter 2017 financial results.
The firm reported that net sales were up by two per cent as reported and up by three per cent in constant currency, versus the prior year's second quarter.
The global toy firm witnessed gross sales increase by one per cent and up two per cent in constant currency. Meanwhile, reported operating loss was $48.7 million, while adjusted operating loss was $40.1 million.
On a global scale, the company's iconic brands – Barbie, Hot Wheels and Fisher-Price – have continued to show strength, boasting double digits in Q2 and high single digits year-to-date.
"Our key power brands – Barbie, Hot Wheels and Fisher-Price – continued to show strength at retail in the second quarter," said 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."
Mattel enjoyed a strong international performance with net sales increasing by eight per cent and gross sales up by six per cent, which has been offset by lower sales in North America.
Back in June, the Board of Directors declared a 2017 third quarter cash dividend of $0.15 per share, compared to $0.38 per share in the third quarter of 2016.
The dividend will be payable on September 15th, 2017, to stockholders of record on August 23rd, 2017.
Q2 also saw a decline in sales for Mattel's construction and arts and crafts goods. The categories, which include Mega Bloks and RoseArt brands, were worth $53.0 million, down 27 per cent as reported, and down 26 per cent in constant currency compared to the previous year.
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