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Mattel volatile after lively investor day

Published 06/14/2017, 02:13 PM
© Reuters.  Mattel volatile after lively investor day
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  • As expected, Mattel's (NASDAQ:MAT) investor day was lively.
  • The company slashed its quarterly dividend to $0.15 per share from $0.38 and lowered expectations for Q2 revenue growth.
  • CEO Margo Georgiadis talked about the global pivot in the toy industry to mobile and digital. She noted 85% of children between the ages of three and five have access to a tablet. Mattel's strategy goals this year include building our Power Brands into "360 connected" systems of play and experiences, accelerating growth in emerging markets and transformating the innovation pipeline.
  • Mattel's CFO announced that no annual guidance would be forthcoming.
  • Shares of Mattel are down 1.39% after initially falling 5% when the dividend cut was tipped.
  • Mattel investor day webcast
  • Now read: Mattel: Q1 Results Point To Classic Value Trap


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