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Financial Data and Key Metrics Changes - The company is confident in offsetting the full cost impact of tariffs in 2025 through supply chain adjustments, product mix management, and selective pricing strategies [9][10] - Operating margins have increased by 14 points from negative to almost 14, while gross margins are close to 50%, reflecting strong financial performance [46][47] Business Line Data and Key Metrics Changes - Hot Wheels is on track for its eighth consecutive record high year, showcasing strong brand performance and innovation in product offerings [4][33] - The Fisher-Price brand has remained stable over the last six years, with a promising start for the Fisher-Price Wood line and continued growth for Little People [40][41] Market Data and Key Metrics Changes - The toy category has seen one of its highest growth rates in the first half of the year, outperforming other sectors tracked by Circana [20][21] - Positive consumer demand has been observed across all markets, both in the U.S. and internationally, indicating a healthy industry environment [21] Company Strategy and Development Direction - The company is evolving from a toy manufacturer to an IP management company, focusing on brand management and franchise growth beyond traditional toy sales [4][5] - Strategic partnerships and content development, including movies and digital platforms, are key components of the company's growth strategy [26][27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the health of the toy industry and the company's ability to navigate macroeconomic challenges, including tariffs [12][18] - The company anticipates a strong holiday season driven by consumer demand and innovative product offerings [22][25] Other Important Information - The company has a strong balance sheet and is actively engaging in share repurchase programs, indicating a commitment to shareholder value [49][51] - The return of toy-related movies is expected to positively impact the industry and the company's growth trajectory [43][44] Q&A Session Summary Question: How is Mattel addressing tariffs and their impact on P&L? - Management is confident in offsetting tariff costs through supply chain flexibility, product mix management, and selective pricing strategies [9][10] Question: What is the outlook for the back half of the year regarding revenue? - Management expects to catch up on revenue lost due to earlier tariff-related disruptions, with positive consumer demand supporting this outlook [12][13] Question: How are retailers responding to the current market dynamics? - Retailers are motivated to drive toy sales, and the relationship with Mattel remains strong and constructive [18][19] Question: What is the strategy for the Fisher-Price brand moving forward? - The company is optimistic about Fisher-Price's growth, focusing on innovation and exiting less profitable lines [40][41] Question: How does the company view the upcoming holiday season? - Management is positive about consumer engagement and expects strong sales driven by innovative products and brand loyalty [25][26]