SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report: September 30, 1998
MATTEL, INC.
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(Exact name of registrant as specified in its charter)
Delaware 001-05647 95-1567322
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File No.) Identification No.)
333 Continental Boulevard, El Segundo, California 90245-5012
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (310) 252-2000
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N/A
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(Former name or former address, if changed since last report)
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Item 5. Other Events
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On September 24, 1998, Mattel, Inc. said that sales and
earnings for the 1998 third quarter and full-year will be
negatively impacted by further reductions in buying by its
largest customer, Toys 'R' Us.
After meeting with Toys 'R' Us management, the Company now
estimates its sales to Toys 'R' Us could be down by as much
as $200 million this year. As a result, Mattel expects that
its earnings per share will be approximately $.75 for the
third quarter, compared with $.73 last year, and in the
range of $1.80 to $1.85 for the full year, versus last year's
$1.65.
The Company also announced that it will more than double its
share repurchases this year, increasing its buyback from the
previously stated 6.5 million shares to a total of 15 million
shares.
Note:
Forward-looking statements included in this release with
respect to the financial condition, results of operations
and business of the Company, which include, but are not
limited to, sales levels, the Mattel and Tyco restructuring
charge, cost savings, and profitability, are subject to
certain risks and uncertainties that could cause actual
results to differ materially from those set forth in such
statements. These include without limitation: the Company's
dependence on the timely development, introduction and
customer acceptance of new products; significant changes in
buying patterns of major customers; possible weaknesses of
international markets; the impact of competition on revenues
and margins; the effect of currency fluctuations on reportable
income; unanticipated negative results of litigation,
governmental proceedings or environmental matters; and other
risks and uncertainties as may be detailed from time to time
in the Company's public announcements and SEC filings.
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SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
MATTEL, INC.
Registrant
By: /s/ Ned Mansour
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Ned Mansour
President, Corporate
Date: September 30, 1998 Operations
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