Preschool & vehicles drive Q2 net sales growth at Mattel

Worldwide gross billings in its action figures, building sets, games and other category increased by 44%, pushing the company’s quarterly net sales total to US$1.2 billion.
July 22, 2022

Mattel had a big second quarter, with net sales jumping to US$1.2 billion, up 20% from just over US$1 billion in the same period last year, according to the toyco’s latest financial report.

The action figures, building sets, games and other category saw the most growth, with worldwide gross billings (Mattel’s standard reporting metric) increasing by 44% to US$372 million, primarily due to the success of Jurassic World and Lightyear action figures. Worldwide gross billings for the infant, toddler and preschool category grew 20% to US$275 million, driven by the Fisher-Price and Thomas & Friends brands. And Hot Wheels steered the vehicles category to finish at US$328 million, a 23% increase.

Dolls posted only a 2% bump to US$401 million, with strong performances by the Barbie and Polly Pocket brands offset by declines for American Girl.

In North America, gross billings increased by 30% to US$774.9 million. Like its competitor Hasbro, Mattel also experienced success in Latin America in Q2, with gross billings in the region growing 33% to US$144.5 million. In EMEA, gross billings climbed 10% to US$328.2 million, falling in APAC by 6% to US$95.3 million (caused by retail closures in China).

Mattel is looking to broaden its portfolio heading into 2023, said CEO Ynon Kreiz in the company’s earnings call yesterday.

To that end, the toyco has inked a deal with Skydance to make a Matchbox movie, signed a SpaceX partnership and hired a new digital gaming exec, Mike DeLaet. Mattel is also flexing its licensing deals for the Disney Princess brand and DreamWorks Animation’s Trolls heading into Q3.

Image courtesy of Mattel. 

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