Mattel 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.
Mattel 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. The company's shares fell about 8% in extended trade Wednesday after the toymaker reiterated that its annual net sales forecast would be "comparable" to last year's figures of $5.44 billion.
A majority of the expected $125 million benefit from the "Barbie" movie to full-year sales was reflected in Mattel's third-quarter results, which handily beat market expectations. Even though Mattel shrugged off concerns around inventory destocking from retailers as it heads into the key holiday period, shopping is expected to be downbeat as crimped household budgets weigh on big-ticket purchases.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Potential industry slowdown in toy sales weighs on shares of Hasbro and MattelHasbro’s third-quarter revenue performance missed Wall Street’s expectations and the company cut its full-year revenue outlook again as signs of a possible industry slowdown in toy sales heading into the holiday season weighs on jittery investors.
Baca lebih lajut »
Potential industry slowdown in toy sales weighs on shares of Hasbro and MattelHasbro’s third-quarter revenue performance missed Wall Street’s expectations and the company cut its full-year revenue outlook again as signs of a possible industry slowdown in toy sales heading into the holiday season weighs on jittery investors.
Baca lebih lajut »