“Given the volatile macroeconomic environment and evolving U.S. tariff landscape, it is difficult to predict consumer spending and Mattel’s U.S. sales in the remainder of the year and holiday season,“ the toymaker said.
“There’s no question that the tariffs are creating disruption in the industry. Many companies have stopped production and shipping to the U.S. as a result of tariffs from China. We do support the Toy Association’s advocacy for zero tariffs on toys,“ Mattel CEO Ynon Kreiz told Reuters.
“The toymaker is squarely in the crosshairs of Trump’s tariff war,“ said Zak Stambor, senior analyst at Emarketer.
The company said it would accelerate plans to move production out of China and temper promotions to save costs. It increased costs-savings target for the year to $80 million from $60 million.
The company had earlier targeted 2025 adjusted earnings per share between $1.66 and $1.72 and annual net sales growth of 2% to 3%.
Mattel's first-quarter net sales of $827 million beat analysts' average estimate of $786 million, according to data compiled by LSEG. It also posted a smaller-than-estimated adjusted loss per share of 3 cents.
The company bought back shares worth $160 million during the quarter ended March 31 and maintained its $600 million repurchase target for 2025.
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