Dive Brief:
- Mattel reported Q2 net sales were up 10% year over year to $1.1 billion, according to a Tuesday press release.
- The toy company reported a net loss of $18 million, compared to a net income of $53 million in the year-ago period.
- Mattel is launching a campaign dubbed “Barbie is Moving,” which will include brand partnerships, consumer products and new packaging, among other efforts.
Dive Insight:
Mattel has big plans for Barbie.
The company is entering a “new chapter” with the doll, with an eye for returning the brand to growth in 2027, newly promoted Chief Marketing and Brand Officer Roberto Stanichi said on a Tuesday call with analysts.
To do so, the company is increasing its investment in Barbie content, including rereleasing seven classic full-length Barbie specials, doubling videos on the company’s Barbie YouTube page and debuting a “Barbie in the Nutcracker” animated special on Netflix this holiday season.
Meanwhile, the toy company is waiting to see if rights to “Barbie” will revert to Mattel from Warner Brothers. After a hit film based on the iconic character debuted three years ago, the studio has until December to make a sequel, according to The New York Times.
“From a product line standpoint, we’re looking to solidify Barbie’s place as a fashion icon,” Stanichi said. “You’re going to see enhanced product value with more detailed fashions, accessories, better style that we believe is going to increase appeal on shelf.”
The holistic approach to Barbie is similar to what the company has done with Hot Wheels, Mattel’s biggest brand since 2024, which is approaching the $2 billion mark.
Mattel reiterated its full-year 2026 guidance, with net sales expected to increase between 3% and 6%.
The company during the quarter also repurchased $100 million of shares, and is on track to reach its target of $400 million for the full year, CFO Paul Ruh said on a call with analysts.
