Mattel CEO says ‘Barbie’ film manufacturing wrapped Thursday, precisely a 12 months earlier than launch date

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Mattel CEO Ynon Kreiz informed CNBC’s Jim Cramer that the corporate’s extremely anticipated Barbie film completed manufacturing on Thursday.

“What’s particular now’s that at this time, we really wrapped manufacturing, principal pictures, for the Barbie film, precisely one 12 months earlier than we launch it theatrically worldwide with our companions, Warner Brothers. … Look out for that,” Kreiz mentioned in an interview on “Mad Money.”

The chief government has beforehand referred to as the movie, starring Margot Robbie and Ryan Gosling and directed by Greta Gerwig, a “cultural event.”

The movie is a part of Mattel’s broader shift in technique to turning into an IP, or mental property, firm that produces extra than simply toys.

“As we proceed to develop the toy facet of the enterprise, we’re additionally placing collectively a method and persevering with to see development in our IP and capturing worth in our unbelievable franchises outdoors of the toy aisle,” Kreiz mentioned.

Mattel beat Wall Avenue estimates on earnings and income in its second quarter outcomes after the shut on Thursday. The toymaker reported earnings of 18 cents per share ex-items on income of $1.24 billion, in contrast with expectations of 6 cents per share on revenues of $1.10 billion. That is in accordance with estimates from Refinitiv.

Kreiz famous in his “Mad Cash” interview that the dolls section grew by 5% in Mattel’s newest quarter, led by Barbie and Polly Pocket. Barbie grew by 7%, he added.

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