Weak sales at largest US toy maker

Source: Agencies | April 18, 2009, Saturday |

Print Edition

MATTEL Inc, the largest United States toy maker, said yesterday that weak sales overseas and cautious orders by retailers led to a larger first-quarter loss that just missed analyst expectations.

Sales fell in most key product categories. Sales of Barbie products fell 5 percent, as a double-digit increase in the US was offset by declines internationally due to the stronger US dollar. Fisher Price sales fell 17 percent, Hot Wheels fell 3 percent and American Girl fell 4 percent.

The toy maker's loss for the quarter ended March 31 totaled US$51 million, or 14 US cents per share, compared with a loss of US$46.6 million, or 13 US cents per share, a year ago. Analysts polled by Thomson Reuters on average expected a loss of 13 US cents per share.

Revenue fell 15 percent to US$785.6 million from US$919.3 million last year. That missed analyst expectations of US$795.8 million.

Sales fell 6 percent in the US and 23 percent internationally. Mattel said about half of its sales come from outside the US.

Manufacturing

About Us
|
Terms of Use
|
RSS
|
Privacy Policy
|
Contact Us
|
Shanghai Call Center: 962288
|
Tip-off hotline: 52920043

沪ICP证：沪ICP备05050403号-1
|
互联网新闻信息服务许可证：31120180004
|
网络视听许可证：0909346
|
广播电视节目制作许可证：沪字第354号
|
增值电信业务经营许可证：沪B2-20120012

Weak sales at largest US toy maker

Email this to your friend