Mattel's earnings slump as Barbie sales tumble

Last Updated: Sun, Feb 02, 2014 08:00 hrs

Sales of Mattel's doll plunged 13 percent worldwide during the crucial fourth quarter.

The world's largest doll maker's shares tumbled 12 percent to 37.84 dollars, stoking worries that Barbie is losing her appeal.

Mattel CEO Brian Stockton told analysts the reality was that the company did not sell enough Barbie dolls.

According to the New York Post, last year, Mattel noted that the drop in Barbie demand was offset by the growth of its Monster High franchise, whose goth-inspired characters sport black lipstick and names like "Sarah Screams" and "Cat Tastrophe."

Other key Mattel brands, including Fisher-Price, Hot Wheels, Matchbox and Tyco race cars, also showed weakness.

Company-wide, fourth-quarter sales fell 6.3 percent to 2.11 billion dollars. (ANI)

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