Mattel Inc reported a bigger-than-expected quarterly loss due to weak sales of its toys such as Barbie, Monster High and American Girl that are aimed at young girls, and the loss of a lucrative Disney license.
Sales of the company’s flagship Barbie dolls slipped again, declining 3.4 percent in the quarter, highlighting the company’s challenges in boosting sales as young girls switch to interactive electronic toys and tablets.
The 57-year-old doll brand’s sales had risen 1 percent in the fourth quarter, reversing two years of declines.
Mattel has been trying to reinvigorate the Barbie brand, launching new dolls with a variety of skin tones, hair styles and outfits in three new body styles.
(Source: CNBC)