Mattel kicked off 2021 with net sales up 47% from last year. Net sales reached $ 874 million in the first quarter.
“This was another record quarter for the company, with truly exceptional results reflecting the success of the turnaround, as we continue to drive transformational improvements and accelerate our business,” said Ynon Kreiz, President and CEO of Mattel. “After the third consecutive quarter of growth in our market share, we are strengthening our position as a consistent leader in the toy industry. We believe we are uniquely positioned to improve profitability and accelerate revenue growth in 2021 and beyond. “
In the first quarter, Mattel saw a 67% increase in net sales and gross billings in North America. Global gross billings for dolls, including Barbie and Spirit, increased 68%; the company plotted a 31% gain in infants, toddlers and preschoolers, including Fisher-Price and Thomas & Friends; 16% growth in vehicles including Hot Wheels and Matchbox; and 69% growth in combination action figures, construction sets, games and other categories led by Masters of the Universe, Jurassic World, plush, MEGA Brands and games, including UNO. American Girl increased their gross billings and net sales by 22%.
The turnover of the International segment increased by 30%.
Mattel says Hot Wheels sales grew 16% across all segments and Barbie climbed 86% with POS showing a 66% increase. Fisher-Price’s core business grew 36% with a 24% boom in infants and newborns. Thomas & Friends increased by 8%. The action figures are up 101%, driven by sales of Jurassic World, WWE and Masters of the Universe. Gaming is up 25% year over year with strong growth from the UN. Building sets and building sets are up 46% due to increased distribution of MEGA Construx products, especially Pokémon and Halo.
E-commerce sales increased 58% in the first quarter.
During the quarterly earnings call with investors and analysts, Kreiz noted that net sales in the first quarter were up 27% from 2019, a good performance compared to the pre-COVID-19 era. Kreiz also says Mattel has updated its 2021 forecast to reflect an expected 6-8% sales growth.
The company notes that its operating profit was $ 31 million, an increase of $ 181 million and the first positive quarter since 2014.
Entertainment continues to be a priority for Mattel going forward.
Mattel Films has 12 features in different stages of development, including titles based on American Girl, Barbie, Barney, Hot Wheels, Magic 8 Ball, Major Matt Mason, Masters of the Universe, Rock ‘Em Sock’ Em Robots, Thomas & Friends, UNO, View-Master and Wishbone. Additionally, Mattel Television has nearly 20 shows and specials in production with over 25 in development, including The UNO game show and the recently announced Barbie fashion battle and Whac-A-Mole.