Mattel, Inc. - MAT STOCK NEWS

Mattel, Inc. (NASDAQ: MAT) reported a net sales decline of 22% in Q1 2023, totaling $815 million, with a gross margin of 40.0%, down from 46.4% year-over-year. The company faced an operating loss of $115 million and a net loss of $106 million compared to a net income of $21 million in the prior year. Adjusted EPS was negative $0.24, down from positive $0.08. Despite inventory challenges, management stated the underlying business remains strong, anticipating improved revenue in the second half of the year. For 2023, Mattel maintains its guidance with expected net sales of $5.435 billion and free cash flow exceeding $400 million.

Overall, while current results show significant declines, the leadership expresses confidence in the long-term strategy and market positioning.

Mattel, Inc. (NASDAQ: MAT) has launched a Barbie doll featuring Down syndrome as part of its global Barbie Fashionistas lineup, promoting inclusivity and representation. The doll, created with guidance from the National Down Syndrome Society, showcases distinctive features, including a new face and body sculpt and accessories symbolizing Down syndrome awareness. Priced at $10.99 USD, the doll aims to help children see themselves and others in Barbie, reinforcing social empathy through play. The initiative is part of Barbie's commitment to diversity, joining an extensive lineup of dolls with various abilities and backgrounds. This effort reflects Mattel's goal to counter social stigma and foster acceptance among children.

The 2023 Hot Wheels Legends Tour, presented by Mobil 1, launches on May 13 in Miami, Florida, and expands to 17 countries, marking the largest tour in its history. Vehicle submissions are open, inviting custom car builders to showcase their designs. The tour will feature nine regional events in the U.S., culminating in the Mobil 1 Rally and Legends Fest on October 7 in El Segundo, California. The virtual Global Semi Final is on November 2, leading to the Grand Finale on November 11. Last year, over 10,000 entries were received, and participation is expected to grow even further this year.

This event will include family-friendly activities and will be streamed on social media channels, allowing fans worldwide to engage.

Mattel, Inc. (NASDAQ: MAT) announced the launch of a peer-to-peer marketplace on its Mattel Creations Virtual Collectibles Platform on April 27, coinciding with the debut of Series 5 of the Hot Wheels NFT Garage. The marketplace will enable collectors to display, trade, and sell Mattel virtual collectibles.

Series 5 features 40 unique digital car designs from brands like McLaren and Porsche, priced at $25 per pack, each containing seven NFTs. Collectors can receive physical die-cast replicas by obtaining rare digital collectibles.

In partnership with blue-chip collectibles company Rarible and others, Mattel aims to enhance user experience on its platform, which has previously seen significant demand, with Series 4 selling out quickly.

Mattel, Inc. (NASDAQ: MAT) has launched a new apparel collaboration with Gap, introducing the Gap x Barbie Collection. This collection features a range of clothing items including tees, skirts, hoodies, denim, and accessories, designed with classic Barbie branding. Starting May 23, the collection will be available for purchase on gap.com and select Gap stores. This is the first launch in a series of planned collaborations between the two brands, including future offerings inspired by Hot Wheels, the world’s top-selling toy. The partnership aims to merge Mattel's iconic brand portfolio with Gap’s signature products, appealing to families and promoting creativity and play.