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Sunday, Jun 26, 2022

Mattel Reports Strong ‘Ghostbusters’ Sales Amid Disappointing Q2 Results

Mattel Inc. is ready to believe in the new “Ghostbusters.”

On Friday, the El Segundo-based toymaker reported strong sales figures that have “exceeded expectations” for its “Ghostbusters” action figures and movie-inspired replica items such as the Ecto vehicle and the Proton pack. The announcement was originally reported by Variety.

The success of “Ghostbusters” toys for both boys and girls comes amid Mattel’s disappointing second quarter financial results, which were reported earlier this week. The company reported worldwide net sales were down 3 percent versus the prior year, and reported net loss per share of $0.06.

Still, Mattel leadership is encouraged by the success of its partnerships with the entertainment industry.

“We continue to see improved brand momentum across much of our portfolio, and our slate of entertainment licenses is strong and building,” said Christopher Sinclair, chairman and chief executive officer. “We remain broadly on track with our outlook for the year.”

“Ghostbusters” is directed by Paul Feig and stars Melissa McCarthy, Kristen Wiig, Kate McKinnon and Leslie Jones.

The Sony Pictures/Columbia film, which opened July 15, failed to meet box office expectations with an opening of $46 million off of a $144 million production budget. It’s anticipated to bring in a total of $168 million domestically, according to BoxOffice Pro.

Media and entertainment reporter Kristin Marguerite Doidge can be reached at kdoidge@labusinessjournal.com. Follow her on Twitter @kmarguerite_usc for the latest in L.A. media news.

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