Updated with comments from earnings call and updated stock price.
Mattel's (MAT) new curvy Barbie dolls seem to have found a following around the world.
The toymaker reported Wednesday that worldwide sales of Barbie in the second quarter surged 23% from the prior year. Excluding the effects of the strong U.S. dollar, Barbie's worldwide sales rose 24%, accelerating from no change in the first quarter.
The sales rebound for Barbie coincides with wider distribution for Mattel's new "Fashionistas" Barbie line -- such as at discount retailer Target (TGT) -- that launched in February. The line features tall, petite and curvy versions that are sold alongside the original ultra-thin model. There are seven skin tones, 22 eye colors and 24 hairstyles that accompany the line.
In March, Target debuted a new campaign using the revamped Barbie dolls to model looks inspired by its swimsuits, with some of the dolls outfitted with mini versions of Target's latest swimwear.
"We are pleased with Barbie's resurgence," a Mattel exec told analysts on a call Wednesday evening. According to Mattel, it has seen "enthusiasm" for the Fashionistas line, an uptick in consumer confidence scores for the brand and more shelf space among major retailers.
Strength in Barbie helped Mattel deliver a better-than-expected second quarter, sending shares nearly 4% higher in after-hours trading Wednesday after closing up 1.4% at $32.83. Net sales fell 3% year over year to $957 million compared to Wall Street estimates for $936.7 million. Loss per share clocked in at 2 cents a share, outpacing estimates for a loss of 5 cents a share.
