Latest news with #PaulRuh
Yahoo
26-07-2025
- Business
- Yahoo
Mattel to keep roughly half of US toys below $20
This story was originally published on Retail Dive. To receive daily news and insights, subscribe to our free daily Retail Dive newsletter. Dive Brief: Toy company Mattel reported net sales in its second quarter were down 6% year over year to a little over $1 billion, according to a Wednesday press release. Net income was also down around 6% to $53.4 million. The company revised its full-year guidance. Net sales are now expected to be up 1% to 3%, compared to its previous outlook of between 2% to 3%. The company doesn't expect any additional price increases this year, Chief Financial Officer Paul Ruh told analysts, and between 40% to 50% of the company's U.S. products will continue to be priced under $20. Dive Insight: Mattel's goal is to keep prices as low as possible, according to executives. 'We're committed to the uninterrupted supply for a wide range of high-quality products and providing the right balance of price and value for our customers,' said Ruh, who joined the company roughly two months ago. With nearly 80% of toys imported to the U.S. coming from China, the category could prove to be especially vulnerable to the impact of tariffs. That is on top of a consumer base that is already stating prices will impact their purchasing behaviors during the back-to-school season, per an ICSC report. However, CEO Ynon Kreiz doesn't see consumers as any more price sensitive compared to a year ago, as the company has been working 'very closely with our retail partners when we consider pricing' headed into the second half of the year and the holiday season. The company expects the total tariff exposure for this year before any mitigating actions to be under $100 million. Mattel last quarter forecast a $270 million impact from tariffs. The company's dolls category was particularly impacted during the quarter, declining 19%, primarily due to fewer Barbie product launches. (Though the company earlier this month did release its first Barbie doll with Type 1 diabetes.) Mattel expects to see improving trends with the brand in the latter half of the year. Toy competitor Hasbro also reported second quarter earnings this week, with revenue dipping 1% year over year to around $981 million. Recommended Reading Dick's plans 9 House of Sport stores in 2023 as sales rise 5.3% Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
24-07-2025
- Automotive
- Business Insider
Mattel is struggling to sell Barbies
Barbie dolls aren't flying off the shelves for toymaker Mattel. On Wednesday, the toy company reported in its second-quarter earnings that its dolls category revenue declined 19% compared to the same period last year. Sales for the dolls category were $335 million. Mattel's dolls product category includes brands like Barbie, American Girl, and Barney, among others. In a Wednesday earnings call, Mattel's newly installed finance chief, Paul Ruh, said the decline in doll sales was "primarily due to fewer new Barbie product launches." Mattel's CEO, Ynon Kreiz, added that "lower associated retailer promotional support" contributed to weak doll sales. However, the toymaker's other brands performed better. Mattel's vehicles product category, led by Hot Wheels, saw a 10% increase in sales in the last quarter compared to the year before, with sales of $407 million. Kreiz said he expected doll sales to pick up in the second half of the year. "In the dolls category, we'll see improving trends with Barbie in the second half, new product innovation, more partnerships and activations later in the year," Kreiz said in the earnings call. The company reported a second-quarter net revenue decline of 6% compared to the year before, with sales totalling $1.02 billion. It also reported a net income of $53 million, $4 million less than the year before. Mattel's stock price was down nearly 5% in after-hours trading on Wednesday. However, it is up about 17% in the past year. In May, Mattel announced that it would raise the prices of its toys, including Barbies, to offset the impact of President Donald Trump's tariffs. Per Kreiz's comments in the Wednesday earnings call, the price hike went into effect in the latest quarter. "Even with the price actions — pricing actions were already implemented — approximately 40% to 50% of our product in the US will continue to be priced below $20," Kreiz said in the call.
Yahoo
23-07-2025
- Business
- Yahoo
Mattel posts steeper sales decline than expected on soft Barbie demand
(Reuters) -Toymaker Mattel posted a bigger-than-expected drop in second-quarter revenue on Wednesday, as weak Barbie sales in North America and cautious inventory planning by retailers amid global trade uncertainties weighed on demand. The company, however, reinstated its full-year sales and profit forecast after pausing it in May, when U.S. President Donald Trump's shifting trade policy upended global supply chains and cast uncertainty over consumer spending trends. Mattel, the owner of brands such as Hot Wheels, Fisher-Price and Uno, now expects a rise in 2025 net sales of 1% to 3%, compared to its February target of a 2% to 3% increase. It forecast adjusted per-share profit between $1.54 and $1.66, below its prior estimate range of $1.66 to $1.72 apiece. Earlier in the day, rival Hasbro raised its annual revenue outlook, betting on the strength of its digital games and cost-cutting efforts to weather the impact of mounting economic and tariff uncertainty. Mattel's finance chief Paul Ruh said timing shifts in retailer ordering patterns impacted its U.S. business, indicating that retailers such as Walmart, Target and were limiting building up inventory going into the key holiday season to minimize exposure to higher tariff rates. Worldwide gross billings for dolls fell 19%, while the infant, toddler and preschool category, which includes Fisher-Price, Baby Gear & Power Wheels brands logged a 25% drop. Mattel reported a 6% drop in net sales to $1.02 billion for the quarter ended June 30, missing analysts' average estimate of a 2.7% decline to $1.05 billion, according to data compiled by LSEG. The weakness was driven by a 16% fall in North America sales, primarily due to fewer new product launches for Barbie and delayed inventory decisions by retailers. Adjusted profit came in at 19 cents per share, compared with the estimate of 15 cents each. 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
Reuters
23-07-2025
- Business
- Reuters
Mattel posts steeper sales decline than expected on soft Barbie demand
July 23 (Reuters) - Toymaker Mattel (MAT.O), opens new tab posted a bigger-than-expected drop in second-quarter revenue on Wednesday, as weak Barbie sales in North America and cautious inventory planning by retailers amid global trade uncertainties weighed on demand. The company, however, reinstated its full-year sales and profit forecast after pausing it in May, when U.S. President Donald Trump's shifting trade policy upended global supply chains and cast uncertainty over consumer spending trends. Mattel, the owner of brands such as Hot Wheels, Fisher-Price and Uno, now expects a rise in 2025 net sales of 1% to 3%, compared to its February target of a 2% to 3% increase. It forecast adjusted per-share profit between $1.54 and $1.66, below its prior estimate range of $1.66 to $1.72 apiece. Earlier in the day, rival Hasbro (HAS.O), opens new tab raised its annual revenue outlook, betting on the strength of its digital games and cost-cutting efforts to weather the impact of mounting economic and tariff uncertainty. Shares of the company fell 3.6% in trading after the bell. Mattel's finance chief Paul Ruh said timing shifts in retailer ordering patterns impacted its U.S. business, indicating that retailers such as Walmart (WMT.N), opens new tab, Target (TGT.N), opens new tab and (AMZN.O), opens new tab were limiting building up inventory going into the key holiday season to minimize exposure to higher tariff rates. Worldwide gross billings for dolls fell 19%, while the infant, toddler and preschool category, which includes Fisher-Price, Baby Gear & Power Wheels brands logged a 25% drop. Mattel reported a 6% drop in net sales to $1.02 billion for the quarter ended June 30, missing analysts' average estimate of a 2.7% decline to $1.05 billion, according to data compiled by LSEG. The weakness was driven by a 16% fall in North America sales, primarily due to fewer new product launches for Barbie and delayed inventory decisions by retailers. Adjusted profit came in at 19 cents per share, compared with the estimate of 15 cents each.
Yahoo
23-07-2025
- Business
- Yahoo
Mattel posts steeper sales decline than expected on soft Barbie demand
(Reuters) -Toymaker Mattel posted a bigger-than-expected drop in second-quarter revenue on Wednesday, as weak Barbie sales in North America and cautious inventory planning by retailers amid global trade uncertainties weighed on demand. The company, however, reinstated its full-year sales and profit forecast after pausing it in May, when U.S. President Donald Trump's shifting trade policy upended global supply chains and cast uncertainty over consumer spending trends. Mattel, the owner of brands such as Hot Wheels, Fisher-Price and Uno, now expects a rise in 2025 net sales of 1% to 3%, compared to its February target of a 2% to 3% increase. It forecast adjusted per-share profit between $1.54 and $1.66, below its prior estimate range of $1.66 to $1.72 apiece. Earlier in the day, rival Hasbro raised its annual revenue outlook, betting on the strength of its digital games and cost-cutting efforts to weather the impact of mounting economic and tariff uncertainty. Mattel's finance chief Paul Ruh said timing shifts in retailer ordering patterns impacted its U.S. business, indicating that retailers such as Walmart, Target and were limiting building up inventory going into the key holiday season to minimize exposure to higher tariff rates. Worldwide gross billings for dolls fell 19%, while the infant, toddler and preschool category, which includes Fisher-Price, Baby Gear & Power Wheels brands logged a 25% drop. Mattel reported a 6% drop in net sales to $1.02 billion for the quarter ended June 30, missing analysts' average estimate of a 2.7% decline to $1.05 billion, according to data compiled by LSEG. The weakness was driven by a 16% fall in North America sales, primarily due to fewer new product launches for Barbie and delayed inventory decisions by retailers. Adjusted profit came in at 19 cents per share, compared with the estimate of 15 cents each.
