Mattel (MAT) Misses Q3 EPS by 50c, to Suspend Dividend
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Mattel Reports Third Quarter 2017 Financial Results
October 26, 2017 4:05 PM EDTEL SEGUNDO, Calif., Oct. 26, 2017 /PRNewswire/ --
Third Quarter Highlights1
Worldwide net sales down 13% as reported, and down 14% in constant currency; worldwide gross sales down 13% as reported, and down 15% in constant currency. Sales performance negatively impacted by Toys "R" Us filing for bankruptcy, tighter retailer inventory management and challenges with certain underperforming brands. Company announced a significantly expanded initiative to structurally simplify business and right-size cost structure in alignment with strategy; Company plans to eliminate at least $650 million in net costs over the next two years.... More