Mattel's CFO is already warning of a"challenging environment" for the holidays as the company expects a quieter shopping environment for consumers. With multiple households affected by pandemic era belt-tightening, the rush for Barbies and Hot Wheels might not be as lightning quick as observers might expect. During a post-earnings call, Mattel talked about their outlook headed towards December.
Barbie Made Mattel A Wild Amount Of MoneyA definite bright spot for Mattel this year was Barbie cleaning up at the box office. CEO Ynon Kreiz spoke with Yahoo! at the Goldman Sachs Communacopia and Tech Conference in San Francisco not too long ago. That led to a gross of $125 million for 2023. That lofty number includes their portion of Barbie's box office profits.
Mattel Films Not Just Making Movies To Move ToysBarbie's surprise success is great for Mattel. But, Mattel's Ynon Kreiz told Semafor that boosting Barbie sales wasn't the plan for the movie. In fact, the executive says that the company looked to kick-start that collection of Mattel-inspired movies. The most important byproduct of Barbie's success might be attracting big-name creators to work with Mattel Films.
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Mattel Sees Challenging Holiday for Toy IndustryMattel owarned of slowing demand for the toy industry heading into the crucial holiday season, taking the shine off its bumper third-quarter results driven by the 'Barbie' movie's box-office success.
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