The home that Barbie and Hot Wheels constructed reported world internet gross sales of $1.84 billion within the third quarter, a 4% decline versus the identical interval final yr. Gross sales in North America fell 3%.
“We proceed to execute on our multi-year technique to develop our IP-driven toy enterprise and increase our leisure providing. Consistent with our priorities this yr, we proceed to enhance profitability, increase Gross Margin, and generate important money stream. We anticipate topline development within the fourth quarter pushed by a very good vacation season, market share good points and a toyetic theatrical slate and are effectively positioned for long-term development and shareholder worth creation.””
Reported working revenue was $488 million, an enchancment of $14 million. Adjusted working revenue was $504 million, a lower of $2 million. Reported earnings per share had been $1.09, an enchancment versus $0.41 per share. Mattel says its adjusted EBITDA of $584 million is an enchancment of $5 million
For the primary 9 months of 2024, internet gross sales dipped 2%. Trying forward, the corporate expects gross sales for 2024 to be flat to barely down in comparison with final yr.
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