'Barbie,' with its soar away popularity, could help ease the path for 14 other content projects currently in development at Mattel and boost its stock.
On the face of it, the results showed a company feeling the squeeze as earnings reported late last month showed that, for the second quarter, net sales were down 12%, or 13% in constant currency, compared with the prior year’s second quarter.
For the first six months of the year, net sales were 16% down year-on-year for an operating loss of $52 million, a decline of $257 million, and an adjusted operating loss of $12 million, a decrease of $224 million.Of course, Mattel is about a lot more than a girl who loves pink, and loyal second fiddle Ken.
Dickson currently serves as President and Chief Operating Officer of Mattel, with his appointment as Gap CEO effective August 22. In his role at Mattel, Dickson has been instrumental in reinvigorating not just Barbie but also Hot Wheels and the Fisher-Price brands.Meantime, Mattel has, understandably, positioned itself to paint the town pink on all things Barbie this year.
Fast Fashion retailer Forever 21 also released Barbie ranges, as have Zara, Primark, Aldo, Sweaty Betty, Fossil and others, while more and more major brands are likely to jump in the Barbie convertible on the road to Profitsville., the number of collectible Barbie Signature dolls sold globally was up over 900% between 2021 and 2022 amid"increasing buzz" for the movie's release, according to Gene Cook, vice president of global collectibles at eBay.
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