Tepid Barbie, Fisher-Price and Hot Wheel sales contributed to a 6% drop in global sales at Mattel as the world’s largest toyco reported its fourth quarter 2013 and year-end financial results.
Sales for Q4 were US$2.11 billion compared with last year’s US$2.26 billion. However, net income was up 23% for the quarter to US$369.2 million, compared to last year’s US$306.5 million over the same period.
Domestic gross sales dropped 10% during the Q4 period, while global sales remained flat over last year. Barbie sales continued to fall to 13%. But sales for Other Girls Brands were up 12%, primarily driven by Disney Princess.
Preschool divison Fisher-Price’s quarterly sales dropped by 13%, finishing down 6% to US$2.12 billion for the year. The Wheels segment also dropped 8% for the year. And in terms of Entertainment, which houses a majority of Mattel’s inbound licenses, worldwide gross sales were down 6% for the quarter, driven by lower sales of Radica and Games, partially offset by the performance of the Disney Planes movie property. The segment’s sales finished the year out flat, with Disney Planes continuing to offset losses from Radica and Games.
For the full year, however, global sales were up 1% to US$6.48 billion. Barbie overall fell 6% in 2013, a disparate result from American Girls 11% gain in 2013 and the 25% growth in the Other Girls segment for the year, driven by mega hit Monster High.
Overall yearly profits for Mattel were US$903.9 million.
The company says weakness in the US market led to underwhelming results for the crucial holiday season. Significant growth remains overseas, however, particularly in China and Russia.