{"id":234115,"date":"2021-04-23T21:22:29","date_gmt":"2021-04-23T18:22:29","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/mattel-stock-briefly-pops-as-barbie-sales-prove-unstoppable\/"},"modified":"2021-04-23T21:22:29","modified_gmt":"2021-04-23T18:22:29","slug":"mattel-stock-briefly-pops-as-barbie-sales-prove-unstoppable","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/mattel-stock-briefly-pops-as-barbie-sales-prove-unstoppable\/","title":{"rendered":"#Mattel stock briefly pops as Barbie sales prove unstoppable"},"content":{"rendered":"

“#Mattel stock briefly pops as Barbie sales prove unstoppable<\/strong>”<\/p>\n

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Mattel experienced a short-lived surge in its stock price on Friday thanks to a blowout quarter fueled by continued demand for Barbie \u2014 who\u2019s become unstoppable since the pandemic took hold.<\/p>\n

The El Segundo, Calif.-based toymaker\u2019s shares shot up as much as 12 percent after the opening bell to $23.31 \u2014 the stock\u2019s highest price since April 2017 \u2014 before falling back down to under $21 a share, roughly where it had been trading previously.<\/p>\n

The bump followed Mattel\u2019s Thursday announcement that sales surged 47 percent in first quarter sales as parents continued to spend their disposable income, including their coronavirus stimulus checks, on toys.<\/p>\n

Barbie, 62, led the boom with sales of the \u201cit\u201d girl doll jumping 87 percent over the previous first quarter. It\u2019s just the latest boost for team Barbie, who\u2019s weathered criticisms in recent years only to morph into one of the hottest toys of the pandemic.<\/p>\n

\u201cBarbie\u2019s cultural relevance truly has never been stronger,\u201d said Richard Dickson, Mattel\u2019s president and chief operating officer, who noted that the toy brand has been \u201cleaning into diversity, inclusivity and social<\/a> impact.\u201d <\/p>\n

\"Sales
Sales of Barbie dolls have exploded since the COVID-19 pandemic took hold in 2020.<\/figcaption>
Miao Ao\/Visual China Group via Getty Images<\/span><\/figcaption><\/figure>\n

Mattel said first quarter sales rose to $874 million from $594 million a year ago, beating analysts\u2019 expectations of $684.2 million. Mattel\u2019s net loss also narrowed to $115.2 million, or 33 cents per share, compared to a loss of $210.7 million, or 61 cents per share, it reported this time last year.\u00a0<\/p>\n

But the stock surge didn\u2019t last long as investors became fearful over whether Mattel will continue to outperform Wall Street\u2019s expectations as vaccinations grow and people start venturing out again. Such concerns are compounded by the knowledge that Mattel is bumping up against the \u201cslow\u201d period for toy sales, BMO analyst Gerrick Johnson told The Post.<\/p>\n

There are a lot of investors who are saying now \u201csell the COVID winners,\u201d or \u201cthis is as good as it gets,\u201d for Mattel, Johnson said.\u00a0This is especially true for the toy industry, which tends to slow down in the spring and summer.<\/p>\n

\u201cSeasonally this is the time to sell,\u201d toy stocks, Johnson said.<\/p>\n

\"Barbie
Barbie doll models from the 1960s on display at Christie\u2019s in London.<\/figcaption>
Fiona Hanson\/PA Images via Getty Images<\/span><\/figcaption><\/figure>\n

Despite these concerns, Mattel raised its guidance for the year. It now expects sales to rise six to eight percent in 2021, an increase from its previous projection of a mid-single-digit gain in revenue. And it expects earnings to be larger by $25 million more than it estimated in February to $825 million.<\/p>\n

Mattel is \u201cgrowth-company trading like a value stock,\u201d wrote DA Davidson analyst, Linda Bolton Weiser in a note on Friday.\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Mattel stock briefly pops as Barbie sales prove unstoppable” Mattel experienced a short-lived surge in its stock price on Friday thanks to a blowout quarter fueled by continued demand for Barbie \u2014 who\u2019s become unstoppable since the pandemic took hold. The El Segundo, Calif.-based toymaker\u2019s shares shot up as much as 12 percent after the…<\/p>\n","protected":false},"author":1,"featured_media":234116,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/04\/MATTEL-RESULTS_.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[103166,77020,67730,4956],"class_list":["post-234115","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-4-23-21","tag-barbie","tag-mattel","tag-toys"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/234115","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=234115"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/234115\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/234116"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=234115"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=234115"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=234115"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}