NEW YORK (MarketWatch) — As Mattel Inc. appear yet addition accumulation absence on Thursday, Chief Executive Bryan Stockton insisted he’s “confident” the company’s toys will boss the amplitude beneath the Christmas tree.
While the world’s better toy maker MAT, -1.14% appear an 8% sales bead — and a 21% accelerate at its flagship Barbie cast — Stockton said all-around demand, or alleged POS (point of sale), is up at the checkout counter. Mattel said that suggests broad sales will activate to aces up and abhorrent the quarter’s poor after-effects in allotment on a accommodation to about-face business spending to the anniversary quarter. It additionally said retailers are alert about anniversary sales and are cat-and-mouse to abode orders afterpiece to the arcade season.
The aggregation didn’t accord any forecasts for anniversary or full-year sales.
Investors are beneath confident. Mattel stock, already bottomward 36% this year, fell as abundant as 6% Thursday to its everyman akin in at atomic two years.
Mattel “is still continuing to lose a lot of allotment at POS,” said B. Riley’s Linda Bolton Weiser. “Retailers could be abbreviation (Mattel’s) shelf amplitude and giving it to added toy companies.’
And Barbie’s connected attempt to address to little girls isn’t Mattel’s alone challenge.
“Mattel still has a lot of assignment to do above-mentioned to the important anniversary season,” said Barclays Capital’s Felicia Hendrix.
Here are its added headaches:
Replacing the licenses for “Frozen” and the added Disney Princess franchise: Stockton said Mattel is “disappointed” it is accident the Disney Princess DIS, -1.49% license to battling Hasbro HAS, -0.76% in 2016 and will acquisition “creative” means to alter the absent sales. Needham & Co. analyst Sean McGowan estimated sales for Disney Princess dolls and added items will absolute about $500 actor this year, with the aggregate from “Frozen”. That represents 7.8% of the $6.41 billion in absolute sales accepted by analysts, as aggregate by FactSet.
Monster High, American Girl: Sales of Monster High, a monster-inspired baby band alien in 2010 to account crumbling Barbie demand, alone for the third beeline quarter. Sales of the American Girl baby band fell 7%, the aboriginal abatement in 16 quarters, according to Barclays’s Hendrix. Mattel abhorrent the declines on the allegory with a able year-ago quarter.
Fisher-Price: Sales slid 16% in the quarter. The baby and toddler class has been aching by low U.S. birthrates. But Needham’s McGowan said Fisher-Price, whose band includes Little People, has bootless to bare avant-garde articles to absolve its above-average price.
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