(New York) The toy maker Mattel on Thursday raised its sales forecasts for the whole year and expects a “solid” holiday season, the group ensuring that it has handled the problems rather well so far. supply chains.
Mattel anticipates a turnover up 15% for the whole year, against 12% to 14% previously, details a press release.
In the third quarter, “we successfully managed the ongoing disruptions in the global supply chain, grew our sales and, according to (the firm) NPD, continued to gain market share,” said CEO Ynon Kreiz. , in the press release.
“We hope to continue to grow by the end of the year and have a strong holiday season,” Christmas being a pivotal time for toy dealers, he added.
The “strong performance in the supply chain this year is related to our scale, expertise and flexibility,” the boss added on a conference call.
“We anticipated the limited supply and extended delivery times and incorporated it into our planning,” he explained.
For example, the group has stepped up its supply of raw materials, invested in additional machines to ensure the manufacture of key products, signed contracts with shipowners in advance or secured additional access to ports. , he detailed.
In the third quarter, the group’s sales rose 8% to $ 1.76 billion.
Revenue from dolls, including Barbies, increased 4% and revenue from Hot Wheels or Cars grew 6%.
Sales of action figures, construction games and companies like the Uno, jumped 26% while those of toys for young children, including the Fisher-Price and Thomas & Friends brands, stagnated.
The group posted a net profit of 813 million dollars over the period, mainly fueled by an accounting provision of 510 million.
Reported per share and excluding exceptional items, the benchmark on Wall Street, profit rose to 84 cents, more than the 72 cents expected by analysts.
Mattel’s gross margin, on the other hand, declined slightly, mainly due to higher raw material prices which were only partially offset by higher prices.
Its stock took more than 5% in electronic exchanges following the close of the New York Stock Exchange.