Mattel announces a $200M cost-cut plan, streamlines supply chain, and launches a $1B share buyback after Q4 sales missed expectations.

Toy maker Mattel announced plans to cut costs and target annual savings of up to $200 million between 2024 and 2026. This comes after the company's fourth-quarter results missed expectations. Mattel reported net sales of $1.621 billion in Q4, with full-year sales remaining flat at $5.441 billion. The company is looking to streamline its supply chain and announced a $1 billion share buyback program, citing its strong balance sheet.

February 07, 2024
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