Barbie Movie Reverses Mattel’s toy Sales Slump. The head of the toy company Mattel has been saying for a long time that making movies would help their business because it hasn’t been doing well.

Barbie Movie Reverses Mattel's toy Sales Slump
Barbie Movie Reverses Mattel’s toy Sales Slump

Their most recent results show just how much they needed this help.

The money they made from selling Barbie dolls went up by 16% from July to September this year compared to the same time last year. This increase was because of the success of the first-ever movie featuring Barbie.

This big improvement in sales helped Mattel have a positive quarter of sales growth after a year of not doing so well.

But even though they did better than expected, the company is still not changing their prediction for how much they’ll sell during the Christmas season. They are worried that the boost from Barbie might not be enough, and they are also concerned about economic problems that could affect how much people spend.

Mattel told investors that they are working in a tough economic situation with a lot of ups and downs, including rising prices, which could make people buy less.

The boss of Mattel, Ynon Kreiz, has been pushing the company to make movies and TV shows to help the business grow because it hasn’t been doing very well since the pandemic.

He thinks that this year will also be a difficult one for the toy industry, with lower sales compared to last year, but he believes that Mattel is doing better than its competitors and making more money.

He said, “Our plan is working. We are in a good position compared to others, and we expect a strong holiday season.”

The Barbie movie, which was directed by Greta Gerwig and starred Margot Robbie and Ryan Gosling, is the most successful movie of the year, making more than $1.4 billion in ticket sales all around the world.

The movie was made to get people excited about Barbie dolls again, as their sales had gone down in the first half of the year. Mattel said they expected to make about $125 million more because of the movie, and a lot of that money has already come in.

Other Mattel brands like Trolls, Barney, Hot Wheels, and Polly Pocket will also be in upcoming Hollywood movies.

Overall, Mattel said their sales went up by 9% in the quarter compared to last year, reaching $1.9 billion. This was the first time they had a good quarter in a year.

Their profits went down a lot to $146.3 million, mostly because they had to pay more in taxes compared to last year.

After these results were announced, the price of Mattel’s shares went down by more than 6% in after-hours trading.

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