Could someone who has better insights into the inner workings of Mattel's finances please explain what's going on? In fourth quarter we had a negative net income of -$280,000,000, third quarter -$600,000,000, down 350% from a year before. Second was -$56,000,000 and first quarter -$113,000,000.
That means despite all the products we sold last year we still managed to loose over a billion dollars.
What the neck is going on? Where did that billion go? Our business model, products, customer base, organisation, operation cost, processes etc. None of these things seemed to change in any meaningful way from 2016 to 2017. The only two major changes would be lots of new leadership starting with new CEO and the TRU bankruptcy late last year.
Other then that, what's going on that accounts for huge losses. I can't figure it out and leadership never gives a straight answer.