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Mattel Inc. may need to obtain a license for the Freaky Friday franchise.
The title of the toy maker suffered its worst millennium loss Friday, exactly one week after its best trading session of the 2000s the previous Friday. The boomerang is the result of the split of the revenues of Mattel's holiday season
CARPET -18.27%
Forecasts for 2019 – Neither good news, but the benefits of last week were at least better than expected.
Mattel's advice on Friday afternoon, reserved for a presentation at the annual Toy Fair in New York, said gross sales would be the same as in 2018, after taking into account the negative effects of currency fluctuations. . Mattel's sales declined for five consecutive years, including 2018, but analysts were actually expecting the company to beat this trend in 2019, with an average growth forecast of 3.5%, according to Mattel. FactSet.
Mattel shares jumped 23.2% on February 8, after sales were good enough to exceed the lower expectations of the first Christmas season without Toys R 'Us. According to FactSet data, this was the biggest percentage gain since 1976. When equities plummeted 18.3% in a single Friday afternoon, it was the worst percentage decline since then. October 1999.
Toy manufacturers faced serious doubts about their ability to increase sales and margins as retail sales declined, which also weighed on rival Hasbro Inc.
AT, -3.73%
Mattel's shares had fallen more than 27 percent in the past year, before the earnings report provided temporary relief.
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