Mattel CEO says 'Barbie' movie 'will be remembered as a milestone in our company's history'
Matel CEO Ynon Kreiz said last weekend's hit release < em>Barbie – the toymaker's first major theatrical film – is a moment that “will be remembered as a key milestone in the history of our company”. His comments came amid second-quarter numbers in line with Wall Street forecasts.
"The Barbie movie is a showcase for the cultural resonance of our intellectual property, our ability to attract and to collaborate with the best creative talent and capabilities in our franchise management organization. It also speaks to the potential of Mattel Films and the significant progress in our strategy to take full advantage of our intellectual property," Kreiz said. p>
Mattel saw its revenue drop 12% to $1.087 billion. Net income fell nearly 60% to $27 million, or 8 cents per share, from $66 million, or 18 cents in the prior quarter. The company struggled with general weakness and as retailers continued to manage inventory levels, chief financial officer Anthony DiSilvestro said. The impact of Barbie - movies and toys - will only really be felt in the third and fourth quarters of the year.
More to come…
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Matel CEO Ynon Kreiz said last weekend's hit release < em>Barbie – the toymaker's first major theatrical film – is a moment that “will be remembered as a key milestone in the history of our company”. His comments came amid second-quarter numbers in line with Wall Street forecasts.
"The Barbie movie is a showcase for the cultural resonance of our intellectual property, our ability to attract and to collaborate with the best creative talent and capabilities in our franchise management organization. It also speaks to the potential of Mattel Films and the significant progress in our strategy to take full advantage of our intellectual property," Kreiz said. p>
Mattel saw its revenue drop 12% to $1.087 billion. Net income fell nearly 60% to $27 million, or 8 cents per share, from $66 million, or 18 cents in the prior quarter. The company struggled with general weakness and as retailers continued to manage inventory levels, chief financial officer Anthony DiSilvestro said. The impact of Barbie - movies and toys - will only really be felt in the third and fourth quarters of the year.
More to come…
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