Mattel Financial News

Roth MKM lowered Mattel (NASDAQ:MAT) to Neutral from Buy in a note Thursday, reducing its price target for the stock to $20 from $24 per share.

Mega Blocks and Mega Construx by Mattel, fills the gap with Pokemon-themed building sets available on Amazon.

“Barbie” may soon be joined by another Mattel doll on the big screen

Hasbro had said in January it would cut about 1,000 full-time positions. On Monday, the company said it had already cut 800 jobs. At the end of 2022, Hasbro had employed about 6,490 people worldwide, according to a regulatory filing.

(Reuters) -Hasbro said on Monday it would be cutting more jobs, as the toymaker struggles with weaker sales amid the holiday season.

After-Hours Stock Movers:

For a fictional doll, Barbie has a long résumé. Since 1960, Mattel’s iconic doll has enjoyed 250 careers, everything from astronaut to zoologist. Her most recent job: real-life Hollywood star.

If current gains hold, shares will have nearly doubled since late July after the former Mattel executive was appointed to revive the once sought-after brand. Gap's third-quarter earnings release Thursday showed significant inventory destocking, even as its holiday-season forecast disappointed. Dickson worked at Mattel for two decades and was responsible for reviving the Barbie brand, which re-entered the cultural zeitgeist in 2023 following the success of the «Barbie» movie. Investors are pinning their hopes on Dickson's efforts to bring in trendier clothing at Gap's Old Navy brand, with Morningstar analyst David Swartz saying the earnings showed «something good happening for the first time in a long time maybe.» «Gap has been in bad shape for so long that anybody who brings some sort of positive outlook to the company would be good at this point,» Swartz said. Old Navy's comparable sales rose 1% in the third quarter, their first increase in 10 quarters, after the brand languished last year due to out-of-sync inventory. «Old Navy gained market share, an encouraging early proof point that work to improve both product assortment and brand messaging» were driving results, Gap Chief Financial Officer Katrina O'Connell said. The company, like major retailers Walmart and Target, noted inventory levels have declined from last year's peak, which had been a significant overhang for several quarters. However, Gap joined other retailers in sounding a cautious note on spending, heading into the all-important shopping season. Executives also alluded to a «longer recovery» time for its other brands Banana Republic and Athleta which have seen «product misfires» and weak «retail execution».

Lauren Sánchez spills the beans on the daily life of her and Jeff Bezos in a recent Vogue profile. From morning journaling to family movie nights (recently featuring Barbie and Oppenheimer), the couple's routines are surprisingly relatable, giving a down-to-earth touch to their high-profile existence.

Hasbro’s third-quarter revenue performance missed Wall Street’s expectations and the company cut its full-year revenue outlook again as signs of a possible industry slowdown in toy sales heading into the holiday season weighs on jittery investors

Toymaker Hasbro disappointed investors with its results on Thursday, joining Barbie-maker Mattel in warning of a weak holiday season and indicating that consumers are being frugal heading into the most important period for retailers.

Check out the companies making headlines in premarket trading.

(Reuters) — Hasbro (NASDAQ:HAS) cut its annual revenue forecast for the second time this year, joining rival Mattel (NASDAQ:MAT) to warn of choppy toy sales in the holiday quarter, sending its shares down 10% before the bell on Thursday.

(Reuters) — Mattel (NASDAQ:MAT) smashed third-quarter results estimates on Wednesday and lifted its annual earnings forecast ahead of the key holiday season, as the toymaker benefited from the box-office success of the «Barbie» movie.

Netflix and Shonda Rhimes' Shondaland have acquired the documentary "Black Barbie," directed by Lagueria Davis and produced by Aaliyah Williams. The documentary focuses on Mattel's introduction of a Black doll to its Barbie collection and the women behind it. The documentary, titled «Black Barbie,» highlights the significant impact of three Black women at Mattel on the evolution of the Barbie brand. It delves into the creation of the first Black Barbie in 1980, emphasizing the importance of representation and the role of dolls in shaping identity and imagination. Executive producers for the documentary include Shonda Rhimes, Betsy Beers, Grace Lay, Sumalee Montano, Camilla Hall, Milan Chakraborty and Jyoti Sarda. The deal for the documentary was handled by Josh Braun and Matthew Burke of Submarine. The acquisition of «Black Barbie» by Netflix and Shondaland has come at a time when the Barbie brand is in the limelight. This is due to the success of Greta Gerwig's «Barbie» movie, which featured Margot Robbie and Ryan Gosling. The film has become the highest-grossing release of the year. It surpassed $1.4 billion in box office earnings.

Roth MKM analysts said that the strength in Barbie is likely offsetting broad-based retail softness for Mattel (NASDAQ:MAT).

Check out the companies making headlines in midday trading.

Investing.com — U.S. futures rose Wednesday, rebounding after the previous session’s selloff with investors awaiting developments on a U.S. funding bill as well as future Federal Reserve's monetary policy.

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₹500. The biggest film of the year stars Margot Robbie and Ryan Gosling as the Mattel dolls, Barbie and Ken.