Are there cracks in the facade of Barbie's Dreamhouse?
Mattel's (MAT) second quarter earnings report did not, on the surface, tell a pretty tale regarding the iconic fashion doll's global sales, down 12% in a fourth straight quarter of declines. The leading toymaker, whose brands also include Fisher-Price, Hot Wheels, Thomas & Friends and American Girl, saw its overall net income drop by 24%, hit by the slide in Barbie sales as well as a $14 million write-down on its Polly Pocket line. Overall sales managed a 1% gain year-over-year, at $1.17 billion. Mattel shares sank 6.8% in the trading session following the report, closing at $43.16.
Does the recent losing streak in sales speak to fatigue regarding the eternally youthful, improbably proportioned yet always well-dressed Barbie, who celebrated her 50th birthday amid great fanfare four years ago?
As CEO Bryan Stockton noted on the analyst call, Barbie, which still reigns as the largest doll brand in the world and is sold in some 150Read More »from Is Barbie's legendary allure on the wane?