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