Mattel Earnings Report … Q2 2013
Summary:
Net profit -23% to $73.3M, revenue edges up 1% to $1.17B. Barbie sales -12%, the fourth consecutive quarterly fall as the iconic brand struggles to stay relevant, American Girl +14%, Hot Wheels -1%, Fisher-Price -3%. North American gross sales -2%, international +4%.
Mattel (MAT): Q2 EPS of $0.21 misses by $0.11. Revenue of $1.17B misses by $0.05B.
Entertainment (Planes & CARS) Flat.
Select quotes from the conference call transcript via Seeking Alpha.
“Our products, based on Warner Bros. Man of Steel and Dreamworks Animations’ Turbo, are meeting early expectations.”
“Disney’s new property, Planes, looks very toyetic, and we’re excited by the opportunities that will take off with this line.”
“Hot Wheels was down 1%, with growth internationally and strong results coming from our diecast line. Our entertainment properties, including Warner Bros. Man of Steel, the initial shipments of Disney’s Planes and Dreamworks’ Turbo, helped offset a strong Batman comparison to last year. Max Steel is just starting to ship around the globe, but very early results in the home market of Latin America are encouraging.”
You can read the rest at Seeking Alpha.
If you’re curious about the new line, Ever After High – there are about 10 paragraphs on it from the call transcript.
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18 July 2013
3 Comments
“Net profit -23% to $73.3M”
Ouch.
Turbo is meeting expectations, which included dust, jeers, and clearance pricing by Labor Day.
“Disney’s new property, Planes, looks very toyetic, and we’re excited by the opportunities that will take off with this line.”
Don’t get to excited mattel, you’ve already stalled sales with your ingenious choice for case assortments! Dusty’s are everywhere warming pegs already and future case assortments look to be the same. I just can’t decide if he’s Francesco with wings or hydrofoil finn….. I mean one of those planes that take off/land on water. If you choose the latter lets just say he’s docked for good here an won’t be “taking off ” anytime soon, a mattel rep is going to have to come in and clean up the mess…… Oh wait we don’t have one of those either oh well it was fun for a month…. Thanks!