Wicked, Hot Wheels drive sales as Mattel preps price hikes
Wall Street Breakfast
Seeking Alpha
3.8 • 950 Ratings
🗓️ 6 May 2025
⏱️ 7 minutes
🧾️ Download transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Thanks for joining us on this Tuesday, May 6th. I'm Julie Morgan. Matel has a strategy to deal with tariffs, and it involves you. |
| 0:17.8 | Google eyes the big screen and Rite Aid files again. Mattel is down one half of one |
| 0:24.9 | percentage point in pre-market action after topping Q1 expectations and pausing its full year |
| 0:31.0 | guidance. Net sales were up 2% year-over-year to $827 million in Q1 or 4% on a constant currency basis. The increase in net sales, |
| 0:42.2 | as reported, was driven by a 3% increase in North America and a 1% increase in the international |
| 0:48.8 | business. Worldwide gross billings for the Dahls category were up 1% to 297 million or 2% in constant currency, |
| 0:58.7 | primarily driven by growth in Disney Princess and Wicked. |
| 1:02.9 | Worldwide gross billings for the infant toddler and preschool category were down 6% to 126 million, |
| 1:10.7 | primarily due to declines in baby gear and power wheels. |
| 1:14.7 | Worldwide gross billings for the vehicles category were up $308 million, up 4% as reported, |
| 1:22.0 | primarily driven by growth in hot wheels. Meanwhile, worldwide gross billings for the action figures, building |
| 1:28.6 | sets, and other categories were up 12% to 193 million, driven by growth and action figures, |
| 1:35.8 | partly offset by a decline in building sets. Mattel paused its 2025 guidance until it has |
| 1:42.4 | greater visibility on the tariff scenario. |
| 1:45.4 | However, the company outlined the tariff mitigation strategies it is deploying, |
| 1:49.8 | including accelerating diversification of its supply chain and further reducing reliance on products from China. |
| 1:56.7 | In addition, the big holiday season is months away, but the toy company mentioned it is taking pricing action in its U.S. business where necessary. |
| 2:05.9 | Shares of Mattel fell 3.1% in postmarket trading on Monday after shedding 1.1% during the regular session. |
| 2:15.6 | Google has its eye on Hollywood as the tech giant has quietly launched a new film and TV |
| 2:21.4 | production initiative called 100 zeros. |
| 2:25.0 | Business Insider reported that the initiative is a multi-year partnership with range media |
... |
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