On Thursday, Shares of Mattel, Inc. (NASDAQ:MAT), surged 0.04% to $22.53.
Mattel, stated worldwide net sales down 4% in constant currency, adjusted operating income of $321.6 million and adjusted earnings per share of $0.71.
Financial Overview
For the quarter, worldwide net sales were down 4% in constant currency contrast to last year. In the North American Region, which comprises of the United States, Canada and American Girl, third quarter gross sales reduced by 4% in constant currency, and 5% as stated. In the International Region, gross sales reduced by 2% in constant currency, and reduced 19% as stated. Adjusted gross margin reduced 170 basis points and 140 basis points as stated, primarily from the negative impact from changes in currency exchange rates. Adjusted other selling and administrative expenses reduced $30 million, reflecting continued cost improvement initiatives. Adjusted operating income for the quarter was $321.6 million, contrast to prior year’s adjusted operating income of $434.5 million, reflecting the negative impact from changes in currency exchange rates and lower sales, partially offset by lower other selling and administrative expenses.
The Company’s debt-to-total capital ratio as of September 30, 2015 was 46.8%.
Cash flows used for operating activities were about $222 million, contrast to about $144 million in 2014. Cash flows used for investing activities were about $206 million, a decrease of about $398 million, primarily due to the prior-year acquisition of MEGA Brands. Cash flows used for financing activities and other were about $254 million, contrast to about $29 million in 2014. The change was primarily driven by prior year net proceeds from long-term borrowings, partially offset by prior year share repurchases.
Mattel, Inc. designs, manufactures, and markets a range of toy products worldwide. The company operates in three segments: North America, International, and American Girl. It offers dolls and accessories, vehicles and play sets, and games and puzzles under the Mattel Girls & Boys brands, counting Barbie, Monster High, Disney Classics, Ever After High, Little Mommy, Polly Pocket, Hot Wheels, Matchbox, CARS, Disney Planes, BOOMco, Radica, Toy Story, Max Steel, WWE Wrestling, and Batman.
On other hand, Shares of Avon Products Inc. (NYSE:AVP), surged 4.10% to $4.06.
Avon Products, traded on a volume of 6,495,649, lower than its standard daily volume. The stock, as of recent close, has shown weekly downbeat performance of -6.24% which was maintained at -55.70% in this year. Over the last twelve months, the stock has lost -63.05 and faced a worst price of $3.18 on Sep 30, 2015. The stock has moved down across its 50-day moving average of $3.98.
Avon Products, Inc. manufactures and markets beauty and related products worldwide. It offers beauty products, such as skincare, and personal care products, in addition to fragrances and color cosmetics; and fashion and home products comprising of jewelry, watches, apparel, footwear, accessories, gift and decorative products, housewares, entertainment and leisure products, children’s products, and nutritional products.
