Toy and merch giant Mattel has recently reported an overall drop in entertainment product sales amounting to 36 percent, but also managed to earn $96.2 million in profits, which is an improvement over their previous profit of $80.5 million. Mattel cites sales of merchandise tied to the Batman: The Dark Knight Rises and Jake and the Never Land Pirates, along with Cars 2 as reasons for the profit in spite of the sales drop.
As reported by The Hollywood Reporter, Mattel’s revenue of revenue of $1.16 billion remain unchanged from the same quarter last year, including an unfavorable dip in currency exchange rates. North American revenue rose 1%, while international revenue declined 1%. Also, second-quarter Barbie sales rose 5%. Fisher-Price Brands sales improved 2%, with Mattel citing strength in Fisher-Price Friends with the addition of the HIT Entertainment portfolio and Disney’s Jake and the Never Land Pirates property.
“In the second quarter, we delivered solid performance as we continued to build momentum with key brands, such as Barbie, Monster High, American Girl and Hot Wheels, as well as the Batman: The Dark Knight Rises property, despite a continued cautious global retail environment and a strengthening U.S. dollar.As we look forward, we remain focused on executing our portfolio of strong brands, countries and customers to deliver in the all-important holiday season.” says Matell CEO Bryan Stockton.
Mattel’s management also confirmed that they will be launching a new property next yeat based on a new girls entertainment license, along with announcement that HIT’s CG-animated series Mike the Knight has been approved for a second TV season.