Results show sales increases in EMEA, North America and Latin America
â€œThis was another strong quarter for Mattel, with increased consumer demand for our products and results exceeding expectations.â€ Said Ynon Kreiz, chairman and CEO of Mattel, he added: â€œWe successfully navigated ongoing global supply chain disruption, achieved sales growth and, per The NPD Group, continued to gain market share. We expect to grow for the balance of the year and have a strong holiday season. Our strength is foundational and broad-based, and we are on a clear path to improve profitability and accelerate top line growth.â€
Results for the for the third quarter revealed Net Sales were up 8% as reported, and 7% in constant currency, versus last yearâ€™s third quarter. Reported Operating Income was $389m, an increase of $10m, while Adjusted Operating Income was $401m, an improvement of $4m. The first nine months of 2021 Net Sales were up 24%, versus the first nine months of 2020. Reported Operating Income was $472m, an increase of $285m.
â€¢ Worldwide Gross Billings for Dolls were $720m, up 4% as reported, driven by growth in Barbie, Spirit and Polly Pocket.
â€¢ Infant, Toddler and Pre-school were $407m, flat as reported, primarily due to a decline in Fisher-Price and Thomas & Friends.
â€¢ Vehicles were $390m, up 6% as reported, mostly driven by growth in Hot Wheels.
â€¢ Action Figures, Building Sets, Games and Other were $446m, up 26% as reported, driven by growth in Action Figures including Jurassic World, Masters of the Universe and WWE, Plush and Building Sets (including Mega), partially offset by a decline in Games.