Mattel’s net loss widened to $311 million in Q1 ended March 31 from $113.2 million a year earlier due largely to $86.8 million in charges related to Toys R Us’ liquidation.

Net revenue in the quarter dropped 3.7% to $708.4 million as a 10% decline in sales of Toy Box brands (owned and licensed) to $247.2 million offset a 2% gain in “power brands” (Barbie, Hot Wheels, Fisher-Price and Thomas & Friends).

The downturn in licensed brands was largely driven by lower sales of DC Super Hero Girls products, partly offset by initial revenue from Jurassic World-related toys for which Mattel is the master toy licensee.

Global gross revenue from licensed brands slipped 14% to $116.5 million, while those of owned properties (Monster High, Mega) were down 6% at $130.7 million. In power brands, global gross sales were led by Barbie products, which recorded a 24% increase to $152.7 million, while those of Fisher-Price and Thomas & Friends fell 8% to $187.8 million.

In North America, Toy Box revenue tumbled 19% to $124.5 million, with those of partner brands falling 18% to $67.4 million. Overall, North American revenue was down 5% to $326.2 million as Barbie gross sales jumped 29% to $60.5 million, a gain offset by a 8% decline for Fisher-Price and Thomas & Friends to $99.8 million.

In international markets, net sales dropped 2% to $317.2 million with gross sales of partner brands decreasing 8% to $49.1 million. Toy Box gross revenue rose 1% to $122.6 million as owned brands posted an 8% gain to $73.5 million. Gross sales of power brands rose 7% to $261.6 million.

Contact:

Mattel, JosephEuteneuer, Chief Financial Officer, 310-252-2000, joseph.euteneur@mattel.com