We raked in a buttload of money with Barbie - both the movie and the products that flew off the shelves in the last few months. I thought we were doing well enough for once not to have to worry about layoffs. So what the he-l is going on? What needs to happen for layoffs to stop happening?
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Tailwinds from Barbie Movie never materialized. Now YoY results should turn into a swift kick in the A$$ to upper management!
Mattel made $125 million in licensing fees from the Barbie movie. They spent nearly all of that amount on stock buybacks last year. Their priorities will only ever be to further enrich themselves no matter how the business is doing. Heads they win, tails we lose.
Oh, and lest we forget, they STIFFED A FREAKIN' CHILDRENS HOSPITAL.
And there is no dissident share holder of any prominence or stop this cycle. Certainly, employees can’t stop this year after year.
Mattel's operated at median total debt of 2.928 billion from fiscal years ending December 2018 to 2022. Looking back at the last 5 years, Mattel's total debt peaked in December 2019 at 3.192 billion. Mattel's total debt hit its 5-year low in December 2022 of 2.672 billion.
Mattel maybe profitable but still has debt. Toy sales have gone down to pre pandemic levels. These levels weren’t that high, as kids get into tech faster.
How much did the movie made for Mattel? Is the only profit the sale of toys? The studio got all the money? Not enough to wipe the debt.
Until Mattel gets it debt lower and offers a dividend for owning stock, the cycle will continue.
Simply "mowing the lawn" isn't enough. Our lawn is infested with weeds that continue to grow as the company nurtures and trims around them. There is also a problem with owners not picking up after their dogs, and bulls.
Hahahahahahaha
I don’t think you understand how competitive corporations work….
Why share profit with workers? Sack workers, and there is more money left for higher ups. It doesn't matter we made the profit happen.
It’s just like mowing your lawn, you have to do it every other once in a while, otherwise it gets out of control.