Mattel has had some rough years, but it seems that things are finally improving.
In its latest quarterly report, the company had a narrower loss than was expected. Yes, it still lost money, but it lost $108M, or 31 cents per share, compared to the $241M, or 70 cents per share, the company reported in the same quarter last year.
“This quarter further demonstrates the continued momentum of our multi-year turnaround strategy,” Ynon Kreiz, chairman and CEO of Mattel said in a statement.
Mattel’s net sales rose 2% to $860.1M, topping the projected $813M.
The big winners were Barbie which saw sales rise 9%, and Hot Wheels which grew by 5%. What really needs a turnaround, however, is American Girl dolls which dropped by 22%. Fisher-Price was down 6%
With Mattel losing its DC action figures at the end of this year, everything will need to pick up in sales. Hopefully with the film division gaining some speed, and a Barbie movie in the works, all of this momentum can continue.