Mattel's Sales Tumble; Posts Loss

  • April 17, 2009
Hurt by retailer reductions and foreign exchange rates, Mattel Inc. reported a loss of $51 million in the first-quarter, with sales tumbling 15% to $785.6 million. In the U.S., sales fell 6%, with international sales declining 23%.

The worst results for the El Segundo, Calif.-based company came in its Fisher-Price brand, with sales dropping 17%, followed by a 14% drop in its boys' brands, which include Hot Wheels, Matchbox and Tyco.

Sales of American Girl products dipped 4%. Barbie, celebrating her 50th birthday this year, provided a relative bright spot: While sales decreased 5% overall, sales in the U.S. had double-digit increases. --Sarah Mahoney

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