By Granth Vanaik (Reuters) - Mattel posted a smaller-than-expected loss for the first quarter on Tuesday, helped by the Barbie maker's tight leash on costs while demand remains tepid for its toys and games. Shares of the company were up 4% in exten.
(Reuters) -Mattel posted a smaller-than-expected loss for the first quarter on Tuesday, helped by the Barbie maker's tight leash on costs while demand remains tepid for its toys. "We are off to a good start for the year with significant margin expansion and very strong improvement in free cash flow," CEO Ynon Kreiz said in an interview with Reuters. Mattel's gross margin grew 8 percentage points to 48% in the first quarter, also in part due to easing input costs as well as lower inventory management expenses.
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(Bloomberg) Mattel Inc. shares rose in extended trading after the toymaker reported a smaller-than-expected first-quarter loss, benefiting from fast sales of its Hot Wheels miniature cars and lower costs.Most Read from BloombergTaylor Swift Is Proof That How We Critique Music Is BrokenBiden’s New Chopper Is Demoted After Scorching White House LawnTech Giants Roar as Tesla Spikes in Late Hours: Markets WrapTesla Stock in ‘No Man’s Land’ After 43% Rout Ahead of EarningsBillionaire Pinaults Figh