NEW YORK — American toy maker Mattel on Wednesday (July 26) reported a drop in profits compared to last year, due to lower sales including a decline in Barbie products in the second quarter.
Profits fell 59 per cent compared to this time last year, to US$27.2 million , on a 12 per cent fall in revenues to US$1.1 billion.
"At this point, we believe the retail inventory correction is mostly behind us, and we look forward to meeting consumer demand for our product as we enter the second half of the year and all-important holiday season," Mr DiSilvestro said. The movie, from director Greta Gerwig and starring Margot Robbie, raked in a stunning US$155 million in its opening weekend in North America.
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