Mattel Reports $1.2B in Sales, Surpassing Q1 Record

After a record $1 billion in net sales during this year’s first quarter, Mattel topped itself in the second quarter with sales of $1.2 billion, the toymaker said Thursday (July 21).

According to the company’s Q2 earnings report, that figure represents a 20% increase over the prior year.

“The first half of the year was an outstanding period of growth for the company,” Mattel Chairman and CEO Ynon Kreiz said in the report.

“We are benefiting from strong retail partnerships and look forward to meeting the projected increase in consumer demand for our product, as we enter the second half of the year and the all-important holiday season.”

Mattel said its gross billings in North America increased by 30%, driven largely by desire for action figures tied to movies like “Jurassic World” and “Lightyear,” dolls, and toys for pre-school age children such as the Fisher-Price brand.

Read more: Mattel Boasts Record-Setting $1B in FY22 Q1 Net Sales

“We are mindful of the concerns related to global supply chain and macroeconomic outlook, including inflation that may impact consumer spending,” Kriez said on a conference call with investors Thursday evening.

“Like all companies, we are not insulated for market volatility and negative conditions. That said, the toy industry has historically demonstrated its resilience during challenging economic times and we believe Mattel is well-positioned to outperform the industry.”

See also: Mattel, SpaceX Look to Rekindle Astronaut Era With New Line of Toys

Earlier this week, Mattel signed a multi-year deal with Elon Musk’s spacecraft engineering firm SpaceX that will see the toymaker create products “that inspire children and collectors alike to tap into their inner space explorer,” as the companies said in a news release.

Mattel will begin releasing SpaceX-inspired toys under its Matchbox brand in 2023 while debuting “astro-inspired collectibles” on Mattel Creations, the company’s collaboration and direct-to-consumer platform, at the same time.

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