Solid Q2 for Mattel

Strong sales of Toy Story and WWE products boost firm; Barbie and Hot Wheels also climb.
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Mattel has reported its second quarter results, with worldwide net sales up 13 per cent, domestic gross sales rising 17 per cent and international sales increasing nine per cent.

The toy giant recorded net income of $51.6 million for the quarter, compared with $21.5 million in last year's second quarter. Net sales, meanwhile, stood at $1.02 billion, up 13 per cent compared to the $898.2 million last year.

Within the firm's Girls & Boys Brands division, worldwide gross sales were $653.2 million, up 21 per cent over a year ago.

Worldwide gross sales for the Barbie brand were up six per cent, while other girl brands rose three per cent - mainly driven by the Disney Princess doll line. The Wheels business, meanwhile - including Hot Wheels - saw gross sales rise by five per cent.

In the Entertainment business, which includes Radica and Games & Puzzles, sales were up 60 per cent. This was primarily driven by growth in the Toy Story 3 and WWE properties, as well as core games.

Sales in the Fisher-Price business unit rose by four per cent for the quarter to $385.2 million.

"I am pleased with the continued solid performance across our portfolio of brands and countries, particularly Barbie and Hot Wheels, as well as the stellar contribution of the much anticipated Toy Story 3 property," said Robert Eckert, chairman and CEO of Mattel.

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