Disappointing Barbie, Hot Wheel Sales Batter Mattel Stock

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


Mattel MATInvestors 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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