Toy maker Mattel, Inc. (NASDAQ: MAT) has reported blended outcomes for the third quarter of 2024 when gross sales declined on account of weak demand throughout the corporate’s working segments.
Web gross sales decreased 4% from final yr to $1.84 billion within the September quarter. Home and worldwide gross sales declined by 3% and 5% respectively.
Web revenue greater than doubled to $372.4 million or $1.09 per share throughout the three months. Adjusted revenue elevated 6% year-over-year to $1.14 per share in Q3.
“We expect topline growth in the fourth quarter driven by a good holiday season, market share gains, and a toyetic theatrical slate and are well positioned for long-term growth and shareholder value creation,” Mattel’s CEO Ynon Kreiz stated.