Disappointing Barbie, Hot Wheel Sales Batter Mattel Stock

Fisher-Price sales also fell, but American Girl sales rose

   

Disappointing Barbie, Hot Wheel Sales Batter Mattel Stock

Mattel Disappointing Barbie, Hot Wheel Sales Batter Mattel StockInvestors soured on Mattel (MAT) after the toymaker reported poor holiday sales. MAT stock tumbled more than 9% in Friday morning trading.

Mattel reported fourth-quarter earnings of $369.2 million, up from $306.5 million in the year-ago quarter. EPS came in at $1.07, which was well below the earnings of $1.19 per share of Mattel stock that Wall Street was expecting, the Associated Press notes.

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During the holiday quarter, Mattel said that revenue fell to $2.11 billion, a 7% year-over-year decline. It was also short of the $2.37 billion in Mattel revenue that analysts had forecast.

For the year, Mattel said it earned $903.9 million, up from $776.5 million in 2012. The company reported annual sales of $6.48 billion, up slightly from $6.42 billion in the prior year.

Mattel noted that sales of its Fisher-Price and Barbie product lines each fell 13% during the quarter, while its American Girl doll line sales climbed 3%.

MAT stock has gained more than 14% over the past year.


Article printed from InvestorPlace Media, http://investorplace.com/2014/01/disappointing-barbie-hot-wheel-sales-batter-mattel-stock/.

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