Mattel Sales Up 10% on Movie Boost, Profits Lag With $18M Loss
Mattel’s CEO said a “movie halo” is helping ignite fan excitement and capture value across multiple verticals. In the second quarter, sales rose 10% and beat expectations, while profits fell short with a net loss of $18 million versus $53 million net income a year earlier. Gross billings for action figures, building sets and games increased 35%, as the company faces pressure to show its entertainment and digital gaming strategy is working.