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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Matica | LSE:MAT | London | Ordinary Share | GB00B1S4QS09 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 4.75 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Mattel Inc. (MAT) expects second-half revenues to reflect ongoing pressures tied to retailers' efforts to align inventories with weak demand, company Chairman and Chief Executive Robert A. Eckert said.
"It should come as no surprise that we anticipate the continuation of pressures on the top line from several areas," including the negative effects of foreign-currency exchange, Eckert said during a conference call. "Retailers are still very cautious on their inventory positions, as are we."
In the U.S., where Mattel has the best point-of-sale data on how products are selling at retail, the company estimates that retail sales of its products are down by low-single-digit percentages year-to-date. But shipments to retailers remain down in mid- to high-single digits, Eckert said.
"As I visit stores, and not just looking in the toy aisles but looking broadly at retail, there is just a lot less inventory available," Eckert said.
Earlier Friday, Mattel reported an 82% jump in second-quarter earnings as tight expense control offset worse-than-expected sales.
The world's largest toy maker reported a profit of $21.5 million, or 6 cents a share, up from $11.8 million, or 3 cents a share, a year earlier. Revenue fell 19% to $898.2 million, with currency exchange accounting for five percentage points of the decline.
Analysts polled by Thomson Reuters most recently were looking for break-even results on revenue of $970 million.
-By Mary Ellen Lloyd, Dow Jones Newswires, 704-948-9145; maryellen.lloyd@dowjones.com
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