Mattel shares surge on 4Q profit, strong Barbie sales

Mattel Shares Racing Higher After Big Earnings Beat

Mattel Inc reported a surprise quarterly profit on Thursday, as the toy maker benefited from its revamped line of Barbie dolls and its efforts to keep a lid on costs, sending its share soaring 17 percent in extended trading.

The company reported net income of $14.9 million, or $0.04 per share, on revenue of $1.52 billion.

Mattel's earnings increased significantly from the year prior of a loss of 82 cents per share.

Barbie ended the year with its highest gross sales in five years, Mattel said, highlighting the company's success in turning around the iconic brand by launching dolls with different skin tones, adding plus-sized and hijab-wearing models and introducing new science kits to make the dolls more educational.

The company's net revenue fell to $1.39 billion in the fourth quarter ended December 30 from $1.6 billion a year earlier, while analysts were expecting $1.52 billion, according to IBES data from Refinitiv.

Revenues of $1.5 billion were also above analyst expectations, although down 5.4 percent from the year-ago period, due in part to the hit from the liquidation of Toys "R" Us.

Ilhan Omar Says AIPAC Pays Politicians To Be Pro
She then retweeted Zeitz despite the seemingly critical nature of his tweet. "And I know exactly what the congresswoman meant". CNN's John Berman said that is the problem many people have with her tweets and can be seen as "veiled anti-semitism".

Walter Jones, longtime North Carolina congressman, dead at 76
Jones had been placed in hospice a few weeks before his death and had recently undergone surgery for a broken hip. In a 2018 AP interview, Jones said that he wasn't afraid to oppose GOP leaders "when I don't think they're right".

Meghan Markle's Father Shares Alleged Letter From the Duchess
Meghan Markle has hit out at her half-sister, Samantha Markle , for her countless comments on her personal life. Her dad had the 5-page note published by the Daily Mail . 'She cried when she found out about it.

The company reported a full year net sales of US$4.51 billion and fourth quarter net sales of US$1.52 billion.

While every major USA toy maker scrambled to find new avenues to sell toys after the sudden liquidation of the world's largest toy retailer, Hasbro's reliance on toys based on movie franchises compounded its struggles.

Mattel Power Brands gross sales were Dollars 1.2 Billion for the quarter, decreasing by 6% year-over-year.

However, gross sales in North America fell 10.1 per cent to US$744.5 million, reflecting Mattel's struggles with finding a major retailer to make up for lost sales from the shuttering of Toys "R" Us. Meanwhile, Hot Wheels' gross sales for the quarter increased by 9% and 12% in constant currency, compared to the year before. However, sales for Fisher-Price, Thomas & Friends, and American Girl all fell substantially.

Ynon Kreiz, Chairman and Chief Executive Officer of Mattel, said: "Our fourth quarter results demonstrate meaningful progress in executing our strategy and significant improvement over past year". After three consecutive quarters of solid, disciplined execution, we are well on our way to becoming an IP-driven, high-performing toy company and creating long-term value for our shareholders. "This is a great moment to celebrate, before we go back and continue the hard work of implementing our multi-year turnaround", Kreiz said.

Related News:

11 February 2019

George Michael's art collection worth millions of dollars up for auction
Christie's said in a statement Friday the proceeds from the sale will go toward Michael's various philanthropic ventures. In 1998, he was arrested by an undercover police officer in Los Angeles for lewd conduct in a public toilet.

11 February 2019

Palestinian arrested over killing of Israeli
PPS said at the Qalandiya military checkpoint, in the central West Bank district of Ramallah, two Palestinians were detained. Israeli troops "responded with riot dispersal means and fired according to standard operating procedures ", he added.

11 February 2019

Fitbit has a new fitness tracker, but you can't actually buy it
Fitbit silently introduced two new fitness trackers last month, the Inspire and Inspire HR, but both are aimed at business customers rather.
No one knows where Childish Gambino was during the Grammys
Co-producer Ludwig Goransson says he tried to call Gambino after the show but it didn't go through. The British-born, Atlanta-based performer was also nominated for two awards in his own right.

11 February 2019

Gayle King checks Governor Northam, when he tries to pretty up slavery
Fairfax has denied the allegations and called for an Federal Bureau of Investigation probe to determine the facts. He told Gayle King on CBS that he had balanced those calls against "what Virginia needs right now".

11 February 2019

At least 39 die in India after drinking toxic liquor
Officials said in Kushinagar district of Uttar Pradesh eight deaths have been reported because of the consumption of hooch. Uttarakhand and Uttar Pradesh Police teams are carrying out joint operations along the UP-Uttarakhand border.
11 February 2019

Brad at Jen's 50th bday bash
Things went sour in 2016 when, amid reports of heavy drinking and a stoush with his son Maddox, Pitt and Jolie split. Jennifer's birthday party was the main event on Saturday night with a host of celebrities in attendance.

11 February 2019

Chrome 73 to support commands from keyboard multimedia keys
Chrome OS 72 renews the user interface of Cast and its panel is now in the upper right corner with some minor graphic changes. The feature will be initially available on Windows, macOS , and Chrome OS devices, but support for Linux is expected later.

11 February 2019

Georgiev's 55 saves help Rangers cool off Leafs 4-1
He is 5-2-1 with a 2.90 goals-against average versus the Rangers, including a 3-1-0 mark at Madison Square Garden. I think we all want to do the same, experience the same feelings and emotions. "That's a scary, scary team".
11 February 2019

Priyanka Gandhi Vadra makes debut on Twitter
He further alleged, "Sabko pata hai jab Priyanka Gandhi Delhi mein rehte hai toh jeans aur top mein rehte hai". It especially needs a breakthrough in Uttar Pradesh where the BJP won 71 of the state's 80 seats in 2014.

11 February 2019

APC vs PDP: Why we dumped Buhari for Atiku - Northern stakeholders
He said Buhari has fallen short of expectations of the masses as he failed in all the three thematic areas of his campaign, namely security, economy and fight against corruption.

11 February 2019

BAFTA 2019: Kate Middleton, Vision In White, Sparkles In Princess Diana's Earrings
Prince William and Middleton will need to move to Buckingham Palace as this is the official house of the monarchy. Kate Middleton has several pieces of jewellery from Princes Diana's collection, which she uses every now and then.