Barbie and Uno sales help Mattel to better than expected second quarter earnings

Barbie and Uno has seen both kids, families, and Mattel through the coronavirus pandemic as the global toymaker beats it quartlery sales expectations, buoyed by a surge on families keeping their kids entertained through lockdown.

Mattel said it was expecting its sales to improve in the coming months, compared with the first half of the year. The company’s shares rose around four per cent in extended trading, according to the latest financials.

The company has also been buoyed by the gradual reopening of toy stores across the US. Chief executive officer, Ynon Kriez has told media platforms that only four per cent of retail outlets, which normally account for around eight per cent of the comany’s sales, were closed at the end of June.

The toymaker’s gross sales in North America rose three per cent in the second quarter, mainly driven by an increase in demand for the firm’s iconc Barbie dolls and its variety of play-sets. Sales of Uno cards, as well as The CHild (Baby Yoda) plush toys pushed sales figures up.

Overall gross Barbie sales increased seven per cent to $199.3 million in the second quarter. However, Mattel’s net sales fell nearly 15 per cent to $732.1 million, as the economic fallout of the health crisis hammered demand in overseas markets.