Toy manufacturer, Mattel, Inc. (MAT, Financial) also advanced in the period on better than expected earnings results. Demand at retail exhibited the resilience of the company's brands, while e-commerce continues to build momentum heading into the holiday season. MAT also delivered gross margin improvement for the second sequential quarter. Looking ahead, we believe the company has sufficient liquidity to navigate the COVID-19 operating environment and remain encouraged by management's successful execution on the Structural Simplification plan and cost savings initiatives. We have conviction in the leadership team's ability to transform MAT into an IP-driven, high performing toy company.
From John Rogers (Trades, Portfolio)' Ariel Fund third-quarter 2020 commentary.
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