Mattel Q4 sales up, no thanks to Barbie
EL SEGUNDO, Calif. — Mattel reported a fourth-quarter net sales increase of 5% to $2.26 billion from $2.15 billion for the same period last year.
For the fourth quarter, the company reported net income of $306.5 million, or 87 cents per share, compared with last year's fourth quarter net income of $370.6 million, or $1.07 per share.
"We had another great year at Mattel with record sales for both total company and our International division, stronger gross margins and our second year of more than $1 billion in operating profit," said Bryan G. Stockton, chairman and chief executive officer of Mattel. "These results are particularly gratifying given the challenging global economic and cost environment."
Heading into Toy Fair, the industry's annual show, Mattel's Monster High brand helped drive the company's "other" brands' sales up 55%, while its traditional Barbie brand saw sales fall 4%.