Mattel sees narrow decline in gross sales in Q1 2016 results - ToyNews

Mattel sees narrow decline in gross sales in Q1 2016 results

Year-on-year, Barbie is flat, American Girl is down while Fisher-Price and Hot Wheels both enjoyed growth.
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Mattel's Q1 2016 results have seen worldwide gross sales down one per cent, with worldwide net sales down two per cent.

The firm's Q1 worldwide gross sales for its girls and boys brands was $ 527.9m, down eight per cent in constant currency versus the prior year . 

Worldwide gross sales for the Barbie brand were flat in constant currency, with the worldwide gross sales for its other girls brands was down 58 per cent in constant currency. First quarter gross sales for American Girl brands were $93.3m, down 11 per cent. 

Elsewhere, worldwide gross sales for the wheels category, which includes the Hot Wheels and Matchbox brands, were up nine per cent.

Worldwide gross sales for its entertainment business, which includes Radica and games, were up 36 per cent while Q1 worldwide gross sales for Fisher-Price brands was $ 272.6m, up nine per cent.

First quarter gross sales for Mattel's construction and arts and crafts brands, which includes Mega Bloks, was $61.9m, up 78 per cent versus the prior year.

"Our results in the quarter reflect very solid progress, particularly in light of significant headwinds we faced at the outset of 2016,” said Christopher Sinclair, chairman and CEO of Mattel.

“Retail sales continued to show strength across many of our core brands, and are closely aligned with shipping. We saw sustained growth in key emerging markets , where we continue to make strategic investments. And we drove ongoing cost improvement throughout the quarter, while maintaining the dividend. 

"While we continue to manage the ongoing impact of foreign exchange, our performance is in line with our expectations, and we remain on track to deliver on our outlook for the year.”

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